The current bearish wave seems to have significantly disrupted the bullish action of Bitcoin, which has forced the largest cryptocurrency asset to revisit downside targets like the $108,000 price mark. While this action has triggered speculations about a potential bear market phase, Michael Saylor’s latest statement suggests that this period of volatility could be laying the groundwork for a notable surge.
Saylor Declares End of Crypto Winters
Strategy co-founder and chairman Michael Saylor has dropped a bombshell on the ongoing bearish period and the future price target for Bitcoin. During an interview on Bloomberg, the chairman declared that the bear market is not coming back and BTC’s price could rise to a million-dollar value.
Saylor, who has long defended Bitcoin as the best digital gold substitute and ultimate store of value, thinks that the cryptocurrency is the cornerstone of the contemporary financial system. This status is being cemented by its increasing institutional adoption, tightening supply dynamics, and growing demand worldwide.
In the interview shared by Trending Bitcoin, the chairman emphasized that the market has gone past the bearish phase, indicating that the market is entering a new era. During these moments of heightened volatility, Saylor believes that BTC is heading to $1 million if it does not fall to zero.
The founder has attributed this anticipated price target to several key factors, especially in the political landscape. According to Saylor, BTC has secured notable support from US President Donald Trump, the Cabinet, Scott Bessent, Paul Atkins, among others, as the crypto king matures into a global reserve asset.
As BTC gains mainstream recognition, Saylor is confident that banks, particularly in the US, will eventually start to custody Bitcoin. This is because Bitcoin has gone through its riskiest period, and the accounting has been corrected.
BTC’s supply continues to shrink, with only 450 BTC available for sale each day by natural sellers, also regarded as minors. When these coins are bought at a rapid rate, demand for BTC is likely to increase, and its price will grow sharply.
The Growing Institutional Adoption Of Bitcoin
Institutions are significantly demonstrating interest in BTC as they set out to add the asset to their treasuries. Saylor revealed that these big firms, such as BlackRock, are acquiring a huge portion of the daily natural supply of BTC.
Considering these factors, Saylor remains confident that BTC’s price is moving higher, hitting between $500,000 and $1 million. “At the current price level, it only takes $50 million to turn the entire driveshaft of the crypto economy,” the founder added. However, in the event of a bearish phase, he claims that BTC could crash to the $250,000 range.
Saylor’s latest remarks reflect Strategy’s robust interest and conviction in BTC’s long-term potential. Despite the current waning price action, the firm continues to accumulate the asset at a rapid rate. The founder recently hinted at another potential buy this week, as he highlighted that Bitcoin is still on sale while sharing a chart of Strategy’s BTC holdings.
