Michael Saylor is not backing down from his famously bullish Bitcoin outlook. In a fresh Bloomberg interview, the Strategy executive chairman dismissed talk of another crypto winter, doubling down on his $1 million price forecast.
“Winter is not coming back. We’re past that phase; if Bitcoin’s not going to zero, it’s going to $1 million,”
Michael Saylor said, sharing his belief that Bitcoin’s most volatile, existential era is now behind it.
He argues that the mechanics of Bitcoin’s supply and demand have structurally changed, making large-scale upward price movements not only possible but increasingly probable.
Supply Crunch Meets Surging Institutional Demand
At the heart of Michael Saylor’s thesis lies a supply shock that’s now being accelerated by corporate and sovereign actors. Only 450 Bitcoin are mined per day, representing roughly $50 million in daily issuance at current prices hovering around $110,000. According to Saylor, this amount is now routinely being absorbed by institutions.
“If that $50 million is bought, then the price has got to move up,” he said. “Public companies are now consuming the entire natural supply.”
Strategy itself, formerly known as MicroStrategy, has become the largest corporate holder of Bitcoin, amassing 582,000 BTC valued at nearly $64 billion. The company’s aggressive acquisition strategy, initiated in 2020, has effectively set it as a dominant force in Bitcoin’s supply-side economics.
Michael Strategy isn’t alone. ETF issuers like BlackRock, Fidelity, and Franklin Templeton are also acquiring Bitcoin daily to back their spot funds, which now serve as institutional gateways to BTC. With these vehicles seeing billions in inflows since their approval earlier this year, the available float of Bitcoin is tightening more than ever before.
Political Tailwinds and Corporate Adoption Reinforce Long-Term Bull Case
In Michael Saylor’s view, macro-level validation is also now cementing Bitcoin’s legitimacy. He pointed to growing support from influential political figures and financial regulators. “You have all the evidence you need to determine that,” he said, referencing endorsements from U.S. political leaders like Donald Trump, as well as Treasury Secretary Scott Bessent and SEC Chair Paul Atkins. These developments, he added, are paving the way for more regulatory clarity and mainstream institutional integration.
Meanwhile, new players are entering the field. Pakistan recently announced plans to establish a strategic Bitcoin reserve through its national crypto council, a move that adds to the narrative of Bitcoin as a treasury asset not just for companies, but for countries.
And among public firms, the list of Bitcoin holders is expanding rapidly, with GameStop and Sweden’s H100 joining the ranks of Tesla and Marathon Digital Holdings.
Data from BitcoinTreasuries.net confirms that 116 public companies now hold BTC on their balance sheets, a number that continues to grow in tandem with market momentum.
ETF Flows and a Rerated Bull Market
Much of the current optimism rests on fundamental catalysts that weren’t present in previous cycles. BlackRock’s iShares Bitcoin Trust (IBIT), Fidelity’s Wise Origin BTC Fund, and others have seen consistent inflows, absorbing more BTC than miners produce.
Simultaneously, digital asset firms are rushing to tap capital markets to finance new Bitcoin acquisitions. The combination of increased fundraising activity and mergers points to heightened expectations for sustained price appreciation. Bitcoin’s price recently surged to an all-time high of $111,965, up more than 50% since early April, pushing many institutional players to secure positions before the next price leap.
Caution at High Altitudes: The $200,000 Volatility Warning
Despite his optimistic long-term thesis, Michael Saylor acknowledged the possibility of sharp price swings at higher valuations.
“If Bitcoin rises to $500,000 or $1 million,” he said, “it would be realistic to expect it crashing down by about $200,000 a coin.”
This admission doesn’t contradict his broader view but serves as a caution that volatility will remain a feature of Bitcoin’s price discovery even in its institutional phase.
That sentiment aligns with recent market analyses from firms like ARK Invest, which updated its bull case for Bitcoin to $2.4 million by 2030, citing rising institutional demand and reduced liquid supply. ARK’s projection goes even further than Saylor’s, but both camps agree on the central thesis: Bitcoin’s fundamentals are more robust than ever.
Conclusion: Bitcoin’s Macro Setup Mirrors Saylor’s Confidence
Michael Saylor’s public reaffirmation of a $1 million Bitcoin target may sound outlandish to skeptics, but the facts backing his view are mounting. Supply is shrinking, institutional demand is compounding, and even sovereign actors are entering the picture. With ETF inflows absorbing newly minted coins and political rhetoric around Bitcoin turning favorable, the conditions for an extended bull market appear firmly in place.
What’s changed is not just the price, it’s the profile of the typical buyer. And that, according to Saylor, is why crypto winter isn’t coming back.
FAQ
Why does Michael Saylor believe Bitcoin is heading to $1 million?
Saylor cites Bitcoin’s limited supply, increasing institutional adoption, and favorable political climate as reasons why the asset could reach $1 million.
What is the significance of 450 BTC mined per day?
This figure represents Bitcoin’s new daily issuance post-halving. At current prices, that’s about $50 million in new supply, an amount being routinely bought up by institutions.
How much Bitcoin does Strategy (formerly MicroStrategy) hold?
As of June 2025, Strategy holds 582,000 BTC, valued at roughly $64 billion, making it the largest corporate Bitcoin holder globally.
What is the risk if Bitcoin hits $1 million?
Michael Saylor warns that volatility may increase at high levels. If BTC hits $500,000 or $1 million, a $200,000 retracement is possible due to speculative corrections.
Are other analysts supporting Michael Saylor’s bullish view?
Yes. ARK Invest recently raised its long-term bull case for Bitcoin to $2.4 million by 2030, citing similar macro trends.
Glossary
Crypto Winter: A prolonged period of low prices and negative sentiment in the cryptocurrency market.
Bitcoin Halving: An event that occurs roughly every four years, cutting the reward for mining new blocks in half and reducing BTC supply growth.
ETF (Exchange-Traded Fund): A regulated investment fund traded on stock exchanges that gives investors exposure to assets like Bitcoin.
Public Company Holdings: Refers to publicly traded firms that have added Bitcoin to their corporate treasuries.
Supply Shock: A market condition where demand exceeds the available supply, often leading to price increases.
Sources
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