Michael Saylor, the co-founder of MicroStrategy, posits that Bitcoin is on a trajectory to reach $1 million while arguing that concerns about a crash to zero are unfounded. He stated this during a recent Bloomberg interview, highlighting that ongoing changes in regulations and a significant influx of institutional buyers support this bullish outlook.
Saylor pointed to a shifting regulatory environment in the U.S., noting the new pro-crypto leadership at the SEC and CFTC, which he believes bodes well for Bitcoin’s future. He mentioned that these developments are complemented by institutions starting to offer custodial services for Bitcoin, making it more accessible to larger investors.
According to Saylor, only about 450 BTC are available for purchase daily from natural sellers, equating to roughly $50 million. He suggests that if this supply continues to be absorbed by entities like institutional investors and Bitcoin treasury companies, prices will likely rise. For example, his company acquired 1,045 BTC recently for approximately $110 million. Other corporations, such as GameStop, are also diversifying into Bitcoin.
The broader market sentiment appears to be shifting, evidenced by BlackRock's Bitcoin ETF which has amassed over $70 billion in assets, suggesting strong institutional demand. Saylor remains optimistic and claims that a rally to $500,000 or $1 million is plausible, implying that any potential corrections would likely not be significant. He firmly believes the era of crypto winters is over, asserting that the market is now on an upward trend as participation from both institutions and governments continues to grow.
Saylor pointed to a shifting regulatory environment in the U.S., noting the new pro-crypto leadership at the SEC and CFTC, which he believes bodes well for Bitcoin’s future. He mentioned that these developments are complemented by institutions starting to offer custodial services for Bitcoin, making it more accessible to larger investors.
According to Saylor, only about 450 BTC are available for purchase daily from natural sellers, equating to roughly $50 million. He suggests that if this supply continues to be absorbed by entities like institutional investors and Bitcoin treasury companies, prices will likely rise. For example, his company acquired 1,045 BTC recently for approximately $110 million. Other corporations, such as GameStop, are also diversifying into Bitcoin.
The broader market sentiment appears to be shifting, evidenced by BlackRock's Bitcoin ETF which has amassed over $70 billion in assets, suggesting strong institutional demand. Saylor remains optimistic and claims that a rally to $500,000 or $1 million is plausible, implying that any potential corrections would likely not be significant. He firmly believes the era of crypto winters is over, asserting that the market is now on an upward trend as participation from both institutions and governments continues to grow.
