Saylor Labels Musk's SpaceX Valuation Claim as '₿ullish'

Saylor described Musk's concept of a SpaceX valued many times greater than the global economy as "₿ullish". Earlier that day, Strategy (which used to be called MicroStrategy) announced it tops all companies in tokenized stock value on blockchain.

A single order of magnitude equals a tenfold increase, so "orders of magnitude" suggests at least a hundredfold. The IMF estimates 2026 global GDP at $126.3 trillion. Under that measure, SpaceX's valuation would have to exceed $12 quadrillion.

What Separates Musk's 100x SpaceX Forecast from Reality?

Musk acknowledged in a post that this notion would "sound super crazy". In July, he made a similar argument that SpaceX could exceed Earth's value if it accomplishes its objectives.

₿ullish

— Michael Saylor (@saylor) October 9, 2026

Saylor's "₿ullish" replaces the initial letter of "bullish" with the Bitcoin symbol, connecting his response to the cryptocurrency.

A five-day surge of 16% brought SpaceX's market capitalization to around $2.17 trillion, approximately 1.7% of worldwide GDP. The stock finished at $160.57 on October 8.

Analysts are divided. Morgan Stanley's Adam Jonas holds a $300 price target in his optimistic SpaceX projection. But he also outlines a drop to $100 if artificial intelligence demand declines or Starship faces a significant problem.

Saylor's attention ties to Bitcoin. SpaceX disclosed 18,712 Bitcoin (BTC) in its S-1 filing, and its Bitcoin holdings have hardly changed since. Tesla, another Musk-led public company, owns an additional 11,509 BTC.

Saylor previously pressured Musk regarding Bitcoin. In December 2020, he publicly recommended that Musk transfer Tesla's balance sheet into the digital asset. Roughly two months afterward, Tesla acquired $1.5 billion worth of BTC.

Musk's firms possess Bitcoin but at a much smaller level compared to Strategy, and the same is true for tokenized equities.

How Strategy Tops All Firms in Tokenized Stock Valuation

Strategy reported that its tokenized stock value hit $491 million, referencing DefiLlama. These tokens mirror publicly traded shares on a distributed ledger.

Probably nothing. https://t.co/bqHD4qOQfg

— Michael Saylor (@saylor) October 8, 2026

According to RWA.xyz, the total tokenized stock market is around $3.18 billion. Strategy's number alone constitutes about 15% of that sum. Tokenized SpaceX stock is in third place at $174 million.

Large figures are nothing new for Saylor, who recently contended that digital assets might evolve into a $100 trillion sector.

At present, Musk's hundredfold vision remains well above any analyst estimate. On-chain figures are far lower, with SpaceX's tokenized stock below 0.01% of its market cap. Nonetheless, the ranking reveals which firms crypto investors prefer on a blockchain, with Strategy in the lead.