#SylootBTCpurchase Michael Saylor, the president of Strategy (formerly MicroStrategy), is confident that Bitcoin's price will surge to $1 million, dismissing the possibility of another bear market. He believes that institutional demand, limited supply, and growing adoption will drive Bitcoin's value higher. Saylor's optimism is based on several factors ¹:

- *Institutional Adoption*: Growing interest from institutions, family offices, and sovereign wealth funds in Bitcoin, creating sustained buying pressure.

- *Limited Supply*: Bitcoin's fixed supply of 21 million coins, combined with declining exchange balances, supports scarcity-based valuation models.

- *Support from Key Figures*: Saylor points to support from the President of the United States, his cabinet, and other prominent figures in the financial industry, such as Scott Pessan and Paul Atkins, as evidence for Bitcoin's potential growth.

Saylor also acknowledges that there may be price drops, but he doesn't expect them to be prolonged. For instance, if Bitcoin reaches $500,000 or $1 million, he suggests a potential drop to $200,000 per coin, which would still be nearly 100% above the current price of $107,000.

*Recent Developments:*

- *Strategy's Bitcoin Holdings*: Strategy has added 1,045 BTC to its holdings, bringing the total to over 582,000 BTC worth $63.85 billion.

- *Long-term Projections*: Saylor has previously predicted that Bitcoin could reach $13 million by 2045, reflecting his long-term vision for the cryptocurrency ² ³.

Saylor's bullish conviction on Bitcoin is shared by other industry leaders, who see it as a hedge against inflation and a potential replacement for traditional financial systems ².