Michael Saylor Declares End of Crypto Winter, Says Bitcoin Is on Path to $1M

Highlights:

• Michael Saylor predicts BTC will hit $1M, dismissing concerns of a price crash.
• Global firms and ETFs accelerate Bitcoin adoption, boosting its long-term market value.
• Strategy builds Bitcoin-backed financial tools, holding 582K BTC worth over $63B.

In a recent interview with Bloomberg, the Executive Chairman and CEO of Strategy Michael Saylor says Bitcoin (BTC) is headed for $1 million and there’s no chance it’s going to zero. He brushed off crash concerns, saying the “crypto winter” is finally over.

Saylor shared that Bitcoin miners release around 450 BTC into the market daily. Based on the current price of $109,830, this adds up to nearly $50 million in daily supply, as reported by CoinMarketCap. He added that if people keep buying all of it, the price will have to go up.

JUST IN: Michael Saylor said the bear market is not coming back and Bitcoin is going to $1 million

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Saylor Predicts $1M Bitcoin as U.S. Turns Crypto-Friendly

Saylor believes Bitcoin could reach $1 million, mainly due to changing U.S. regulations. He pointed to the new Securities and Exchange Commission (SEC) Chair, Paul Atkins, and the upcoming Commodity Futures Trading Commission (CFTC) leader as being supportive of crypto. He also noted that the White House seems more positive about Bitcoin now.

Saylor pointed out that traditional financial institutions are now starting to provide Bitcoin custodial services. He adds that Bitcoin has already passed its most dangerous stage, which was marked by strict government policies and heavy regulations.

Global Firms, ETFs, and Nations Push BTC Growth, Says Saylor

CEO of Strategy mentioned that global companies seem to be moving into the crypto space more quickly. He referred to Metaplanet in Japan, which appears to have grown from a $10 million company to one valued at $5 billion. It looks like they’re planning to raise large amounts of money through the Tokyo Stock Exchange. According to him, this isn’t about competition—it’s more about working together.

Saylor also mentioned that Bitcoin ETFs are helping to take more Bitcoin off the market. He noted that BlackRock’s Bitcoin ETF, IBIT, has quickly grown to over $70 billion in assets within 341 trading days and currently holds close to 700,000 Bitcoin. He added that some countries are also stepping in, buying Bitcoin to build their own Strategic Bitcoin Reserves. “If Bitcoin rallies to $500K or $1 million, then maybe we can talk about it crashing down by $200,000 a coin,” said Saylor.

Strategy Builds BTC-Backed Financial Tools, Holds $63.85B in BTC

Strategy is taking a different path from most companies. It’s not only buying and holding Bitcoin but also creating financial products based on it. Saylor said this makes them unique. He explained that their business model focuses on offering Bitcoin-backed credit tools, like bonds and preferred stocks. He claimed that their firm is the only one globally to have issued preferred stock backed by Bitcoin, achieving this milestone three times over the past five months. Since 2020, Saylor’s company, Strategy, has collected 582K BTC. According to Saylor Tracker, that amount is now worth around $63.85 billion.