Strategy founder Michael Saylor, the biggest institutional Bitcoin (BTC) bull, made important statements regarding the Bitcoin price.
Speaking at an event hosted by global securities firm Mizuho, Michael Saylor said that Bitcoin has likely bottomed out and that quantum risk has been exaggerated.
At this point, Saylor stated that Bitcoin’s bottom likely occurred at $60,000. He added that it formed a bottom around $60,000 in February.
Saylor explained that BTC’s bottom is determined by the exhaustion of selling pressure rather than its valuation. He also added that the current selling pressure is limited.
According to Saylor, who notes that trend reversals are more influenced by changes in capital structure and liquidity than investor sentiment, current ETF inflows are absorbing daily selling volumes, and the adoption of Bitcoin for treasury purposes by companies is limiting selling pressure.
For the next bull market, Saylor predicted that the catalyst would be a Bitcoin-based banking lending and digital credit system, transforming Bitcoin from an interest-free asset into a capital market engine.
Finally, Saylor spoke about quantum computers, which have been the subject of much debate lately. Regarding the recent discussions about the threat posed by quantum computing, Saylor argued that the risk has been exaggerated.
Saylor noted that the quantum threat is still theoretical and will likely take decades to materialize.
*This is not investment advice.
