The former CEO of Strategy, Michael Saylor, is optimistic that the crypto market winter will not return. He has also speculated that the increased adoption of BTC and unusual daily supply will take it to $1 million.
On June 10, Saylor told Bloomberg that winter is not coming back and we are over that phase. Also, if BTC is not going to zero, it is going to touch $1 million.
An asset management company, ARK Invest, surged its bull case BTC price from $1.5 million to $2.4 million by the end of 2030. Saylor also mentioned that Bitcoin miners provide around 450 Bitcoins for sale each day.
And the value stands around $50 million as per the current price of $109,493. And, Saylor mentions that if that $50 million is purchased, the price has got to rise. He further went on to mention that the increasing number of public firms buying BTC are purchasing the entire natural supply.
The Support Can Push The Mark
Strategy has solely purchased 582,000 BTC since 2020, whose worth is estimated at around $63.85 billion, as per the Saylor Tracker data. The former CEO believes that it just takes $50 million to turn the tide of the crypto economy.
He also mentioned that if the price goes to this mark, it would make it more likely to predict it crashing down by around $200,000 a coin. He further highlighted the support for the largest cryptocurrency by US President Donald Trump, the US Treasury Secretary Scott Bessent, and the SEC Chair Paul Atkins.
He also noted that traditional banks are getting ready to offer Bitcoin custody services. The virtual asset has crossed its riskiest period, and the accounting has been corrected. Saylor also highlighted BlackRock and other Bitcoin exchange-traded fund (ETF) providers purchasing Bitcoin daily, and the nation states entering the space.
On May 28, Bilal Bin Saqib, the head of Pakistan’s crypto council, publicized that the nation is going to set up a strategic BTC reserve.
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