Michael Saylor: All the Evidence Says Bitcoin Is Going to $1 Million, Not Crashing to $0

Strategy founder Michael Saylor argues that Bitcoin is headed straight to $1 million and speculations of a price crash to zero are unfounded. Saylor notes that the signs of a mega rally are evident, pointing to a wave of institutional buyers snapping up available BTC for their reserves.

Michael Saylor Believes Bitcoin at $1 Million Is Within Reach

In his latest commentary, Michael Saylor predicted that Bitcoin would reach $1 million in the near future due to several positive factors. The Strategy founder shared his outlook in a Bloomberg interview, noting that the odds of a price collapse to zero are negligible.

Saylor believes that the biggest indicator of Bitcoin’s rise to $1 million is a shifting regulatory landscape in the U.S. Specifically, he cited that the new SEC Chair, Paul Atkins, and the incoming CFTC head are pro-crypto, aligning with the White House’s growing enthusiasm for Bitcoin.

Furthermore, Saylor highlights that financial institutions are beginning to offer Bitcoin custodial services for clients. He adds that Bitcoin has already weathered its riskiest phase, which was marked by a hostile government stance and draconian regulations.

Currently, the U.S. Senate is moving swiftly to pass a series of pro-crypto bills, signaling continued bullish momentum. A U.S. congressman is also pushing a House bill to convert President Trump’s executive order for a Strategic Bitcoin Reserve into law.

Institutional Players and Nation-States Are Absorbing the Available Supply

During the interview, Saylor stressed that only 450 BTC are available for sale each day from “natural sellers,” amounting to around $50 million. He suggests that prices are bound to move upward if all 450 BTC are bought daily.

In parallel, the Strategy founder disclosed that Bitcoin treasury companies are acquiring a significant portion of the BTC available for purchase. Strategy itself has acquired 1,045 BTC for $110 million this week. Companies like GameStop and Trump Media are raising funds to increase the amount of BTC on their balance sheets.

In addition to corporations, Saylor pointed to the growing role of Bitcoin ETFs in absorbing available supply. Currently, BlackRock’s Bitcoin ETF, IBIT, has surpassed $70 billion in assets within just 341 trading days, holding nearly 700,000 BTC. He also notes that nation-states are joining the fray, purchasing the flagship cryptocurrency through the creation of Strategic Bitcoin Reserves.

“If Bitcoin rallies to $500K or $1 million, then maybe we can talk about it crashing down by $200,000 a coin,” said Saylor.

Ultimately, the Bitcoin bull stressed that the days of the Bitcoin bear market or crypto winter are over. Essentially,  the market is now in an “up-only” trend amid institutional and government participation.