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Michael Saylor said Bitcoin has probably bottomed out just below $60,000 and expects the price to climb back above $100,000, though he did not attach a date to that target. The executive chairman of Strategy made the comments in an interview with Bloomberg Television during DC Fintech Week, according to Cointribune.
Saylor described the current stretch as the start of a new bull market and framed his outlook over a multi-decade horizon rather than a single cycle, projecting annual growth of 20% to 30% over the next twenty years. Cryptobriefing, which also covered the October 13 interview, reported that Saylor declared the bear market finished and pointed to friendlier US regulation and growing bank adoption as the forces behind his view.
Also read: Saylor Proposes Digital Asset Rights, Targets $100T Industry
Key facts
- Saylor said Bitcoin’s low came in slightly below $60,000 and that the market can resume rising from there.
- He anticipates a return above $100,000 but set no deadline, and forecasts 20% to 30% annual growth over the next twenty years.
- Strategy’s reserves reached 848,250 BTC after a 250 BTC purchase announced on October 12; Cryptobriefing reported that equals roughly 4% of Bitcoin’s total supply, with an average acquisition cost of about $75,000 to $76,000 per coin.
- MSCI must announce by October 16 whether new eligibility rules could exclude Strategy from its indices; JPMorgan estimates about $2.8 billion in investment flows could be affected.
- The Bitcoin price traded near $83,900 early in the day, while prediction markets assigned only a 27% probability to a return to $100,000 — Cryptobriefing put those odds at about 33%, and Standard Chartered’s Geoffrey Kendrick has set a year-end target around or above $100,000.
Regulation, banks and digital credit
Saylor attributed the earlier price weakness to trade policy, international tensions and monetary decisions, and argued that a more favorable regulatory environment, faster bank adoption, growth in tokenized securities and stronger digital credit networks now support a better trajectory. He also tied part of his case to artificial intelligence, arguing that investors will seek assets machines cannot reproduce at will and calling Bitcoin the “king of commodities.”
On price structure, he noted that Bitcoin briefly fell below its 200-week moving average before rebounding to a 25% premium over that indicator, which he treats as an important element of the current cycle. He added that the reading alone does not confirm a definitive bottom.
Also read: Saylor's 'More Orange' Post Signals Another Strategy Bitcoin Buy
Selling, and a shift in how Strategy is described
The interview also addressed Strategy’s Bitcoin sales this year. The first sale of 32 BTC drew reactions from the company’s supporters, but Saylor said later sales involving several thousand units did not stop the market from advancing. He wants Strategy viewed as a structured finance company able to move between stocks, cash, credit and cryptocurrencies as conditions change, and said the recent sales are not the core of its future strategy. He said the company intends to keep buying during the bull phase, partly through the issuance of credit-linked securities.
Summarizing performance since the first purchase in August 2020, Saylor said Bitcoin grew roughly 38% per year over that period while MSTR stock returned between 52% and 53% annually.
Why it matters
The gap between Saylor’s target and market pricing is the story. Bitcoin is trading in the $80,000s, far below the $100,000 level he expects it to reclaim, and the conflicting odds from prediction markets cited by the two outlets show how little consensus exists about the next leg. That distinction matters directly for Strategy: Cryptobriefing noted that its average cost basis sits near $75,000 to $76,000, so a slide back toward the recent low would put the position underwater again and test the “digital capital” model and the preferred stock built around it.
What to watch
MSCI’s announcement, due by October 16, is the immediate event; Saylor has criticized the position under consideration and hopes the index provider reverses it. Beyond that, the questions are whether Bitcoin holds above Strategy’s cost basis, whether bank adoption keeps expanding, and whether prediction market odds drift up from their current level.
Saylor’s $100,000 target is a forecast, not a certainty. This is not financial advice, and crypto markets are volatile and can move sharply against expectations.
Reported by cointribune.com.
Sources: Cointribune, Cryptobriefing