Michael Saylor, Chairman of MicroStrategy, predicted that BTC could reach $1 million and declared that the cryptocurrency winter is over. The analysis suggests that Bitcoin's scarcity and market demand have entered a new phase due to active market entry by governments and institutions.
In a recent interview with Bloomberg, Saylor stated, "Winter is no longer coming. If Bitcoin is not heading to zero, the next destination is $1 million." This statement came under the backdrop of rapidly increasing institutional fund inflows and implicit support from the US government.
The basis for his statement is the massive amount of Bitcoin held by MicroStrategy. Currently, the company holds 582,000 BTC, valued at approximately $63.7 billion. When adding the holdings of major listed companies like Marathon Digital, Riot Platforms, and CleanSpark, the total public company holdings reach about 763,479 BTC.
Meanwhile, Bitcoin's supply is becoming increasingly limited. After the 2024 halving in April, only about 450 new BTCs are mined daily. Saylor emphasized that this extreme scarcity, combined with institutional demand through ETFs, will inevitably lead to a price surge. In fact, on a single recent day, $431.2 million flowed into the Bitcoin spot ETF market, highlighting the supply-demand imbalance.
Attention is also turning to national-level Bitcoin strategies. Recently, Pakistan officially announced plans to create a "national Bitcoin reserve" by benchmarking US cryptocurrency policies. The US government also established a "strategic Bitcoin holding plan" in March and is currently incorporating seized BTC assets into national assets. Jan3 Bitcoin infrastructure company founder Samson Mow warned that "Pakistan might acquire Bitcoin before the US".
Saylor particularly praised Trump's pro-cryptocurrency stance. The Trump administration is creating a friendly regulatory environment as promised, appointing Scott Bessent as Treasury Secretary and potentially replacing SEC Chair Gary Gensler with Paul Atkins. This is interpreted as a signal accelerating the cryptocurrency industry's entry into the mainstream.
However, Saylor cautioned that not everything is rosy. He warned that while Bitcoin could exceed $1 million, it could also potentially drop to $200,000 in the process, indicating a "bullish yet high-volatility phase".
Currently, Bitcoin is trading at $109,460, having risen 61.2% this year alone. Over the past month, its return has reached 5.3%. Experts diagnose that mainstream funds, national reserve policies, and halving-induced scarcity are working in trinity to create a market cycle entirely different from the past.
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