Saylor frequently mentioned a theme in his recent speeches: that Bitcoin will not experience bear markets like in past cycles and will not have deep pullbacks, but will enter a phase of significantly reduced volatility and eternal bull markets. I used AI tools to scan his statements on X and found a pattern; he basically mentions the eternal bull market several times a year, with the year 2024 having the most references.

June 2025

Bitcoin has passed the most dangerous phase, and there will be no more bear markets in the future. Winter will not come again. If Bitcoin does not go to zero, it will rise to $1 million.

June 2024

Bitcoin is currently in a super cycle. ETFs are buying over $500 million daily, while miners' output value is only $50 million. The bear market is gone, just a temporary pullback.

May 2024

Bitcoin is now digital gold. Gold does not have bear markets, and neither will Bitcoin.

April 2024

After the halving, the supply shock of Bitcoin will make the bear market a thing of the past. Prices will only rise until they reach a global equilibrium level.

December 2023

With the approval of ETFs, Bitcoin will enter a permanent bull market. The old cycle has ended.

October 2023

The Federal Reserve cannot stop Bitcoin. Money printing ensures BTC's dominance, and the bear market is a thing of the past.

To summarize the core logic of Saylor's no-bear market theory:

Institutional demand exceeds miners' selling demand, with institutions buying $500 million daily while miners only sell $50 million.

Bitcoin becomes digital gold, with reduced volatility and long-term growth.

The halving mechanism and the long-term inflow of ETF funds lead to a permanent supply crunch, eliminating deep bear markets.

Federal Reserve policies and the devaluation of global fiat currencies will drive Bitcoin to become a mainstream asset.

These four core logics, taken individually, are fine, but whether they can lead to the conclusion that there will be no deep bear markets again is still uncertain. Many analysts and their viewpoints still differ, believing that cycles will still be followed.

Saylor, as a father figure of Bitcoin, has worked tirelessly to promote its development, and his contributions cannot be overlooked. Many of his actions have influenced the decisions of later players, including Metaplant and Tesla.

Therefore, I believe his statements deserve attention.