MicroStrategy Chairman Michael Saylor said in a statement to Bloomberg Crypto that the “crypto winter” will not return. Saylor argued that Bitcoin has overcome its riskiest periods and is heading towards $1 million.
Saylor said in an interview with Bloomberg anchors Katie Greifeld and Matt Miller:
“The crypto winter will not return. We are past this phase. Bitcoin will not go to zero; it is going to $1 million. We have enough data to prove it.”
According to Saylor, the support from the US government indicates Bitcoin’s long-term success. Noting the positive approach of cabinet members, former SEC officials and CFTC representatives towards digital assets, Saylor said, “Now banks will also store Bitcoin.”
Saylor also said that the supply of Bitcoin has become limited, and that only 450 Bitcoins are sold by miners per day, which corresponds to a daily sales volume of approximately $50 million. According to Saylor, this volume is enough for the market to move upwards:
“Companies that hold Bitcoin treasuries are buying the daily natural supply alone. BlackRock and ETFs are also buying. Moreover, even governments are now entering this space.”
Saylor said that when the price of Bitcoin reaches $500,000 or $1 million, a drop may be possible, but such a scenario is not possible at current price levels.
He cited Trump Media’s $2.5 billion announcement, GameStop’s $500 million move and MicroStrategy’s multi-billion-dollar new fundraising as examples.
*This is not investment advice.
