SpaceX's Record-Breaking IPO Brings Bitcoin to 25% of 'Mag8'
Elon Musk's SpaceX made history on June 13 by raising $75 billion in its IPO, becoming the largest public market debut ever. The company listed 555.6 million shares on Nasdaq.
In a tweet, Michael Saylor, Executive Chairman of Strategy, congratulated Elon Musk and stated that SpaceX's debut means 25% of the 'Mag8' now holds Bitcoin on their balance sheet.
The 'Mag8' refers to Apple, Microsoft, Alphabet, Amazon, Meta, Nvidia, Tesla, and SpaceX. Among these companies, only two hold Bitcoin in their balance sheets: Tesla and SpaceX. The latter's S-1 filing revealed that it acquired 18,712 BTC at a total cost of $661 million.
SpaceX's inclusion in major indexes is also imminent. FTSE Russell confirmed that the company will be added to the Russell 1000 and Russell Top 200 on June 26, while MSCI will add SpaceX to its standard and large-cap indexes on June 29.