MicroStrategy CEO Michael Saylor Dismisses Concerns of Another Crypto Winter

MicroStrategy CEO Michael Saylor has dismissed concerns about another crypto winter. He told Bloomberg that Bitcoin is headed to $1 million instead of crashing to zero.

MicroStrategy CEO Michael Saylor isn't worried about another crypto winter. In fact, he thinks Bitcoin is going to $1 million.

Saylor made the remarks in an interview with Bloomberg on Friday. He said a key driver for higher prices is supply constraints. Only about 450 Bitcoin are sold by miners each day, which comes to roughly $50 million at current prices.

“If that $50 million is bought, then the price has got to move up,” Saylor explained. He said public companies are now buying “the entire natural supply” of Bitcoin.

MicroStrategy began accumulating Bitcoin in 2020 and now owns 582,024 BTC, which is currently worth around $63.85 billion.

The firm disclosed this week that it purchased an additional 1,045 Bitcoin for $110 million through a new installment in its bitcoin-funded note offering. Other companies such as GameStop and Trump Media are also planning to sell new stock issues to fund bitcoin purchases.

Meanwhile, BlackRock's (NYSE:BLK) Bitcoin ETF has already crossed $70 billion in assets in 341 trading days. The fund is known to hold nearly 700,000 BTC, showcasing the strength of institutional demand.

Saylor added that the bitcoin ETF providers buy bitcoin on a daily basis, which consistently creates demand pressure on the limited supply available in the market.

President Trump's support for bitcoin has also created a more favorable regulatory environment for crypto adoption. Treasury Secretary Scott Bessent and SEC Chair Paul Atkins have both voiced their support for cryptocurrency adoption.

Major banks are also preparing to offer bitcoin custody services to their clients, marking a shift from previous years when large financial institutions shied away from crypto-related services.

“Bitcoin has gotten through its riskiest period; the accounting has been corrected,” Saylor stated. He believes the regulatory uncertainty that previously stalled bitcoin adoption has now been resolved.

The US Senate is currently working on bipartisan legislation to create a more favorable regulatory framework for crypto. A House bill aims to convert Trump's Strategic Bitcoin Reserve executive order into permanent law.

Pakistan recently announced its plans to establish its own Strategic Bitcoin Reserve, and other nation-states are considering similar moves to add bitcoin to their national reserves.

Earlier this year, ARK Invest again raised its bitcoin price target, this time to $2.4 million by 2030, up from a prior prediction of $1.5 million.