- Michael Saylor believes Bitcoin will not fall to $60,000 and sees no threats in the near-term, instead expecting it to reach $100,000 by the end of 2024.
- Saylor says Donald Trump’s win has “very decidedly settled the future of crypto and Bitcoin in the United States” and that the new administration will bring “pro-Bitcoin policies.”
- Saylor calls the proposed U.S. Strategic Bitcoin Reserve Bill, which aims to accumulate 1 million BTC for the government, “the greatest deal of the 21st Century” with potential benefits worth trillions of dollars.
MicroStrategy’s Michael Saylor believes Bitcoin is heading upwards from here and won’t see a significant retracement. He also predicts the cryptocurrency could hit $100,000 by the end of 2024.
Saylor rules out chances of Bitcoin falling to $60K
At a CNBC interview on Nov 14, Saylor said he doesn’t think Bitcoin will fall to $60,000 or even $30,000. He believes “it is going to go up from here.” Bitcoin is currently trading around $87,790 according to CoinMarketCap.
Saylor said Donald Trump’s presidential win “very decidedly settled the future of crypto and Bitcoin in the United States.” He added that he doesn’t “really see any threats on the near-term horizon.”
Saylor plans a party for when Bitcoin hits $100K
“I’m planning the $100,000 party,” Saylor said. “I’m thinking it’s probably going to be New Years Eve at my house, so I would be surprised if we don’t go through $100,000 in November or December.”
Keith Alan, co-founder of trading resource Material Indicators, echoed Saylor saying it’s possible for Bitcoin to reach $100,000 as soon as Nov 28.
Still, CryptoQuant CEO Ki Young Ju warned on Nov 9 that Bitcoin might end 2022 under $59,000 due to an overheated futures market.
Bitcoin price trend is upward despite volatility
Bitcoin is currently trading at $87,790. While volatility may continue, traders remain confident the overall price trend is upward.
Ash Crypto, a pseudonymous crypto trader with 12 million followers, said to expect “high volatility” and “more liquidations” but believes the “price trend will be to the upside, making new highs.”
Financial analyst Rajat Soni said he doesn’t care about Bitcoin’s price when buying as “every buy will appreciate in purchasing power.”
Saylor bullish on crypto regulation under new SEC leadership
Saylor also discussed potential changes in crypto regulation with the new administration.
He believes the SEC Chair has “the most pivotal role in the crypto industry.” Saylor said he thinks impending leadership changes are “incredibly bullish for digital assets” and will lead to “a lot more pro-Bitcoin policies.”
Strategic Bitcoin Reserve bill called “greatest deal of the 21st century”
At a recent conference, Saylor called the proposed U.S. Strategic Bitcoin Reserve Bill “the greatest deal of the 21st century.”
The bill would set a goal for the government to accumulate 1 million Bitcoin. Saylor said this would provide a “$16 trillion benefit to the United States over 21 years.”
He added that “doubling the max” to 2 million Bitcoin would lead to a “$30 trillion benefit.”
Galaxy Digital’s Mike Novogratz disagreed, saying the probability of the bill passing under the new administration is low.
