Tesla (TSLA) and SpaceX (SPCX) CEO Elon Musk posted an Artificial intelligence (AI)-generated patriotic video on Saturday, and Strategy’s (MSTR) co-founder, Michael Saylor, used it as a Bitcoin pitch, replying to it with a one-line message swapping the letter B for the Bitcoin symbol.
“We can still make something Ƀetter,” Saylor wrote on X early Saturday. The post included an AI-generated video of a cover of “God Bless USA” produced by the account Heavy Pulp that garnered more than 2.2 million views within hours on the July 4 holiday.
Saylor’s response continues to be a familiar pattern for the executive, who regularly posts Bitcoin-themed content around US holidays and has framed the cryptocurrency as a tool for American economic strength.
Strategy, SpaceX And Tesla’s Bitcoin Holdings
As of early July, Strategy was holding 847,363 BTC, a stash worth around $52.9 billion at current prices, and the largest corporate Bitcoin holder. According to its latest SEC filing, SpaceX, which went public last month in the biggest initial public offering (IPO) on record, held some 18,712 BTC worth a rough $1.17 billion, while Tesla held 11,509 BTC valued at about $718.5 million. Bitcoin (BTC) was trading at $62,425.78 at the time of writing, up more than 1% in the last 24 hours.
Previously, Saylor congratulated Musk’s SpaceX IPO, saying that the latter’s Nasdaq (NDAQ) debut means 25% of the Mag8 now holds Bitcoin. Saylor pointed to a larger set of the Magnificent Seven companies, calling it “Mag8” instead of the more common Mag 7, in reference to Bitcoin’s increasing footprint on corporate balance sheets.
Bitcoin Enters Late-Stage Bear Market
Strategy continues to stack Bitcoin as CryptoQuant analyst Axel Adler Jr pointed out that the top cryptocurrency has likely entered the late stage of the bear market cycle, and the ETF sector signals easing pressure for the first time. U.S. spot Bitcoin ETFs saw net inflows of $223 million in recent trading sessions, following 10 consecutive sessions of outflow, according to SoSoValue.
The apex crypto is down over 50% since its last all-time high in October. This put pressure on Strategy’s Class A Common stock, which briefly dipped below 1 Market-to-Net Asset Value (mNAV) in late June.
MSTR’s price closed up over 7% on Friday. On Stocktwits, retail sentiment around MSTR was in the ‘extremely bullish’ zone, while chatter around it changed to ‘normal’ from ‘high’ levels over the past day.
