Michael Saylor, Strategy’s big boss, is not having any of the "crypto winter" talk. He’s firmly sticking to his guns, claiming Bitcoin’s growing adoption and limited daily supply are key ingredients to skyrocket the price to a cool $1 million.
“Winter is not coming back,” Saylor told Bloomberg on Tuesday. “We’re past that phase; if Bitcoin’s not going to zero, it’s going to $1 million.”
I think it’s worth noting that ARK Invest, the billion-dollar asset manager, has followed Saylor’s lead, raising its Bitcoin price target from a conservative $1.5 million to a jaw-dropping $2.4 million by 2030.
Saylor's $50 Million Formula for Bitcoin’s Next Big Leap
Saylor points out that miners are only putting about 450 Bitcoin (BTC) up for sale each day, worth about $50 million at the current $109,859 price. He argues that when $50 million worth of Bitcoin is bought up, the price will have to go up.
He’s quick to mention that a growing number of public companies are now buying the “entire natural supply” of Bitcoin. His firm, Strategy, has hoarded 582,000 Bitcoin since 2020, worth a whopping $63.74 billion, according to Saylor Tracker data.
“At the current price level, it only takes $50 million to turn the entire driveshaft of the crypto economy one turn,” Saylor said.
But Saylor doesn’t believe in a straight-line rocket to the moon. He cautions that if Bitcoin hits $500,000 or even $1 million, don’t be surprised if it “crashes down by about $200,000 a coin” - classic market turbulence.
Trump, US Backing, and Global Bitcoin Mania
In my opinion, Saylor is betting that there’s more than enough support from big players like Trump and the US government to send Bitcoin to the moon. He pointed to Trump’s pro-Bitcoin stance, the backing from US Treasury Secretary Scott Bessent, SEC chair Paul Atkins, and traditional banks preparing to jump into the Bitcoin custody game.
“Bitcoin has gotten through its riskiest period; the accounting has been corrected,” Saylor said confidently.
While Trump has touted Bitcoin, his February tariffs played a part in Bitcoin’s 40% drop from its January high of $109,000. Still, Saylor believes the ecosystem is far from fragile.
And he's not done yet. Saylor highlights BlackRock and other Bitcoin ETF providers who are buying up Bitcoin daily, as well as nations like Pakistan getting into the game. Bilal Bin Saqib, head of Pakistan’s crypto council, even announced plans to set up a strategic Bitcoin reserve. Meanwhile, Samson Mow of JAN3 warns the US is at risk of being "front-run" by Pakistan if it doesn’t start scooping up Bitcoin for its own strategic reserve.
Looks like Bitcoin is here to stay, and it could be setting up for a wild ride ahead!
Alex Shepel
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