BTC going to hit $1 million, according to Saylor

Strategy’s Michael Saylor has dismissed concerns about a return of the crypto market winter, asserting that Bitcoin’s accelerating adoption and shrinking daily supply set the stage for a rally to $1 million.

“Winter is not coming back,” Saylor told Bloomberg on Tuesday. “We’re past that phase; if Bitcoin’s not going to zero, it’s going to $1 million.”

Saylor noted that only around 450 Bitcoins are available for sale each day from miners, worth roughly $50 million at current prices of about $109,859, per CoinMarketCap.

“If that $50 million is bought, then the price has got to move up,” he said.

He also pointed to the growing number of public companies acquiring Bitcoin, which he claims are absorbing “the entire natural supply.”

Strategy, Saylor’s firm, has accumulated 582,000 Bitcoin since 2020, currently valued at approximately $63.85 billion, according to data from Saylor Tracker