Michael Saylor from Strategy has dismissed concerns about a potential return of a downturn in the cryptocurrency market. He believes that if Bitcoin adoption grows and its daily supply diminishes, prices could hit $1 million.
“The winter isn’t coming back,” Saylor said during a recent interview on Bloomberg. “We’ve moved beyond that stage. If Bitcoin doesn’t crash, it’s headed for a million.”
In October, Ark Invest, an asset management firm, increased its optimistic Bitcoin price estimate from $1.5 million to $2.4 million by the end of 2030.
Daily Bitcoin Purchases Could Drive Prices Up
Saylor noted that Bitcoin miners sell roughly 450 BTC each day, which amounts to about $50 million given the current valuation of $109,859. “If $50 million is being purchased, then the price has to rise,” he stated.
He mentioned that more public companies are acquiring Bitcoin, absorbing much of the natural supply. Since beginning its buying spree in 2020, Saylor’s firm has amassed 582,000 Bitcoins, equating to about $63.85 billion.
“At this price level, $50 million could significantly influence the entire crypto economy.”
However, Saylor noted that more conservative projections suggest that if Bitcoin climbs to $500,000 or even $1 million, we could see a drop of around $200,000 per coin.
Support from the Broader Economy and Trump
Saylor expressed confidence that the wider economy can support various asset forecasts. “We have all the data we need to make decisions,” he commented.
He also voiced his support for U.S. President Donald Trump’s endorsement of Bitcoin and noted the backing from U.S. Treasury Secretary Scott Bescent and SEC Chairman Paul Atkins, stating that traditional banks are beginning to prepare for Bitcoin custody services.
Trump has made public statements supporting Bitcoin; however, his tariffs in February were seen as a major factor in Bitcoin’s substantial decline from a January peak of $109,000.
Saylor highlighted that companies like BlackRock and other Bitcoin Exchange-Traded Fund (ETF) providers are making daily purchases, signaling that significant interest is building in the market. Recently, Pakistan’s Crypto Council Director, Bilal bin Saqib, shared that they are working towards creating a Bitcoin Reserve.
Samson Mow, founder of Jan3, mentioned that the U.S. risks falling behind in Bitcoin accumulation unless it acts to secure its own strategic Bitcoin Reserve established by Trump in March.
This article does not serve as investment advice. Readers should conduct their own research when considering any investment or trading decisions.
