Michael Saylor Optimistic Bitcoin Will Reach US$1 Million, Dismisses Concerns of Crypto Winter,
Executive Chairman Strategy Michael Saylor dismissed concerns about the return of the crypto winter and is confident that Bitcoin (BTC) will rise to US$1 million due to increasing adoption. He stated that winter will not return if Bitcoin does not go to zero, then it will go to US$1 million.
"Winter (crypto winter) will not return, we have passed that phase, if Bitcoin is not heading to zero, then the direction is to US$1 million," he told Bloomberg on Tuesday (10/06).
Saylor explained that only about 450 BTC are sold every day by miners, worth about US$50 million, and this entire supply is almost always purchased by companies that accumulate Bitcoin. Strategy itself has accumulated 580,000 BTC or worth US$64 billion.
However, if Bitcoin rises to US$500,000 or US$1 million, a major correction is likely to occur, for example, it could drop around US$200,000. However, Saylor believes there is enough economic evidence to support his bullish prediction.
Saylor also highlighted support from figures such as US President Donald Trump, Treasury Secretary Scott Bessent, and SEC Chairman Paul Atkins, as well as the role of traditional banks that are beginning to provide Bitcoin custody services.
In addition, the purchase of Bitcoin by BlackRock, a provider of Exchange-Traded Funds (ETFs), and countries like Pakistan that are starting to build Bitcoin reserves, strengthens the positive prospects for this asset.
For your information, crypto winter is a sluggish period in the crypto market, characterized by a sharp decline in digital asset prices, minimal trading activity, and a decrease in investor interest. This period reflects the overall lethargy of the industry, as seen after the peak of crypto prices at the end of 2021 until 2023.
Disclaimer Alert. Not Financial Advice (NFA). Do Your Own Research (DYOR).
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