Michael Saylor, Executive Chairman of Strategy, reaffirmed his bullish Bitcoin outlook, dismissing any return of a crypto winter. Speaking recently, Saylor stated, “Winter is not coming back. We’re past that phase; if Bitcoin’s not going to zero, it’s going to $1 million.”
Saylor highlighted the tightening Bitcoin supply, noting only 450 BTC are mined daily, equating to about $50 million at current prices near $110,000. He warned that such buying pressure could sharply push prices higher, especially as public companies absorb the entire natural supply.
Strategy, which began acquiring Bitcoin in 2020, now holds 582,000 BTC, worth approximately $63.85 billion. Saylor emphasized, “At the current price level, it only takes $50 million to turn the entire driveshaft of the crypto economy one turn.”
Backing his forecast, Saylor pointed to strong institutional and governmental interest. Traditional financial institutions are preparing Bitcoin custody services, while political figures, including former President Donald Trump, Treasury Secretary Scott Bessent, and SEC Chair Paul Atkins, have expressed support for Bitcoin.
Although optimistic, Saylor acknowledged possible volatility at higher price points, suggesting that if Bitcoin reaches $500,000 to $1 million, a pullback of about $200,000 per coin could occur.
Other major forecasts align with this optimism. For example, ARK Invest recently raised its bull case Bitcoin target from $1.5 million to $2.4 million by 2030.
Meanwhile, Bitcoin accumulation by ETF providers and governments continues. BlackRock and others purchase Bitcoin daily, and Pakistan plans to create a strategic Bitcoin reserve.
The number of public companies holding Bitcoin has risen to 116, including new entrants like GameStop and Swedish health tech firm H100. MicroStrategy remains the largest corporate holder with over 580,000 BTC (~$60.9 billion). Marathon Digital Holdings and Tesla also hold significant amounts, exceeding $1 billion in Bitcoin holdings each.
The recent rally to a record $111,965, up more than 50% since early April, has spurred digital asset firms to raise capital aggressively through listings and mergers to bolster Bitcoin acquisitions while investor demand remains strong.