Saylor to Musk: Thanks to you, 25% of 'Mag8' firms now hold bitcoin

Michael Saylor stated on X this week that 25% of the "Mag8" group of companies now hold Bitcoin on their balance sheets, attributing this trend to Elon Musk. Saylor, co-founder of MicroStrategy, a prominent Bitcoin holder, made this remark in a post congratulating Musk on SpaceX's "historic IPO debut." The "Mag8" is a term often used to refer to the largest and most influential technology companies, though its exact composition can vary. MicroStrategy itself has been a significant accumulator of Bitcoin, having purchased billions of dollars worth of the cryptocurrency since August 2020. This statement suggests a growing acceptance of Bitcoin as a corporate treasury asset among major technology firms, a shift that Saylor implies has been influenced by figures like Musk.