Michael Saylor responded to Elon Musk's vision of SpaceX reaching valuations orders of magnitude beyond Earth's economy with a "₿ullish" endorsement, using a Bitcoin symbol in place of the letter B to tie his support to cryptocurrency.
Musk's claim would require SpaceX to exceed $12 quadrillion in value, based on the International Monetary Fund's 2026 global GDP projection of $126.3 trillion. The entrepreneur acknowledged the idea "will sound super crazy." Currently, SpaceX trades at approximately $2.17 trillion following a recent rally, representing roughly 1.7% of global GDP.
Wall Street outlook remains divided. Morgan Stanley analyst Adam Jonas maintains a $300 price target in his bullish SpaceX forecast but sketches a potential decline to $100 if AI demand cools or Starship experiences a major setback.
Saylor's interest in SpaceX appears connected to Bitcoin holdings. SpaceX listed 18,712 Bitcoin in its S-1 registration filing, while Tesla, Musk's other listed company, holds 11,509 BTC. Saylor has previously lobbied Musk on Bitcoin strategy, including publicly urging him to move Tesla's balance sheet into Bitcoin in December 2020. Tesla purchased $1.5 billion of BTC approximately two months later.
Strategy dominates tokenized stock market. Saylor's company Strategy reports tokenized stock value of $491 million, representing roughly 15% of the estimated $3.18 billion total tokenized stock market. Tokenized SpaceX shares rank third at $174 million in on-chain value.
