Saylor Declares Bitcoin Winter Over, Predicts BTC Will Hit $1 Million
Strategy co-founder and Executive Chairman Michael Saylor has dismissed concerns from Wall Street skeptics, declaring the era of “Bitcoin winter” officially over and projecting that the cryptocurrency is on a path to reach $1 million.
In an interview with Bloomberg, Saylor pushed back against criticism from short seller Jim Chanos, defending Strategy’s premium share price and the company’s aggressive bitcoin-backed financial strategy.
This week, Strategy added 1,045 BTC to its reserves, bringing total holdings to 582,000 bitcoin—worth over $60 billion. Saylor emphasized that Chanos misunderstands the company’s model, stating, “We’re actually the largest issuer of bitcoin-backed credit instruments in the world.”
He pointed to the firm’s issuance of preferred equity—under tickers STRIKE, STRIDE, and STRIFE—which allows Strategy to raise capital without diluting shareholders. The latest bitcoin purchase, valued at $110 million, was fully funded through these instruments.
Saylor argued that Strategy operates not as a closed-end fund but as an active company capable of generating bitcoin-related returns. “We posted $8.4 billion in BTC-dollar gains in the first two quarters of this year,” he said, adding that Strategy is targeting $15 billion in bitcoin-based earnings for 2025.
Bitcoin to $1 Million?
Saylor offered a bold forecast for bitcoin’s future. “Winter’s not coming back. Bitcoin’s not going to zero—it’s going to $1 million,” he declared, citing institutional demand, inflows into spot ETFs, and the current limited issuance of just 450 BTC per day.
He also dismissed concerns about quantum computing posing a threat to bitcoin. Saylor argued that companies like Microsoft and Google have no incentive to destabilize global cryptography, and any meaningful threat would be signaled years in advance. “Bitcoin is less vulnerable than most other digital systems,” he added.