Michael Saylor Says Bitcoin Bottom Is In, Sees Return to $100K
Michael Saylor, executive chairman of Strategy, said bitcoin has found its floor and is poised to reclaim six figures, telling Bloomberg Television on Tuesday that the cryptocurrency bottomed just under $60,000 and is at "the beginning of a bull market."
The comments place one of bitcoin's most prominent corporate backers firmly in the bullish camp at a moment when the token remains well below its record high. Bitcoin was trading around $83,000 at the time of the interview, according to Quartz, leaving it roughly 30% below the all-time peak of $126,251 set in October 2025.
"It should definitely move back into the six figures beyond $100,000," Saylor told Bloomberg Television, according to Quartz. He did not attach a specific date to that target but said he expects bitcoin to grow 20% to 30% a year over the next two decades, stressing that he is not a short-term trader.
Why Saylor Thinks the Worst Is Over
Saylor said trade, foreign and monetary policy had weighed on the price earlier in the cycle, but he listed four forces now pushing in the opposite direction. He pointed to improving regulatory conditions and accelerating bank adoption of bitcoin as drivers of the new bull cycle, according to a summary of the interview carried by KuCoin.
He also leaned on a technical argument, noting that bitcoin briefly slipped below its 200-week moving average before bouncing back to trade at a 25% premium to that level. The token rebounded from a low near $60,000 to the $80,000 range, a move he said shows further upside is likely.
Part of Saylor's pitch rested on artificial intelligence. He argued that investors will increasingly seek assets that robots can't make more of, a category in which he places bitcoin, which he called the king of commodities.
On politics, Saylor dismissed the idea that the 2028 U.S. election would determine crypto's fate. "It doesn't matter who gets elected in 2028," he said, as long as the industry delivers products people love, adding, "you'll pry those magic products from people's cold dead fingers."
Strategy's Bitcoin Buying Plans
Saylor said Strategy, the largest corporate holder of bitcoin among publicly listed companies, intends to keep accumulating. The firm holds 848,250 BTC after a fresh 250 BTC purchase disclosed earlier this month, and Saylor said the company likely acquired more bitcoin than any other company this year.
"We are moving into a bull market, so I would expect we are probably acquiring bitcoin, and we will be issuing credit into the bull market," he said, according to Bloomberg. He expects the company to keep increasing its holdings by issuing more credit-type securities.
The interview also addressed Strategy's decision to sell bitcoin earlier this year, a sensitive subject for the company's supporters. Saylor said its first sale of 32 BTC drew a strong reaction, while later sales of thousands of coins did not stop the market from rising.
He argued that Strategy should be viewed as a structured finance company that moves among equity, cash, credit and bitcoin as conditions change. To manage through the downturn, Saylor introduced a capital framework allowing Strategy to sell bitcoin and common stock to build cash reserves and buy back interest-bearing preferred stock, Quartz reported.
Saylor also pointed to the company's track record since its first bitcoin purchase in August 2020. Over that stretch, bitcoin has climbed about 38% a year, while Strategy's MSTR stock has returned about 52% to 53% a year, he said.
MSCI Decision Looms Over Strategy
Strategy faces a separate test this week that has nothing to do with bitcoin's price. MSCI is expected to announce by Friday whether it will adopt new eligibility rules that could push Strategy out of its global equity indexes.
The proposed changes would exclude companies MSCI determines are primarily engaged in accumulating assets rather than operating businesses. Last November, JPMorgan estimated that if Strategy were excluded, it could face up to $2.8 billion in outflows.
Saylor pushed back against the index provider. "We think their position so far has been disappointing because they are imposing prejudicial values on digital assets," he said, according to Bloomberg. "I think it is a bad precedent for them and for the industry, I hope they reconsider it." He contended that Strategy belongs in the operating-company category and should not be treated as a mere holding company.
Market Still Has Doubts
Not everyone shares Saylor's confidence. Prediction markets were giving a $100,000 bitcoin target just 27% odds earlier today, with the token trading near $83,900.
Bitcoin has been stuck in a range near $80,000 since mid-August, according to Quartz. The cryptocurrency has been unable to recover its upward trajectory after a record $19 billion worth of crypto positions were forcibly closed within a single 24-hour window shortly after the October 2025 peak, according to Bloomberg.
Strategy's own recent behavior reflects the choppy market. The company has periodically paused bitcoin purchases and even sold the token in recent months, buying only modest amounts relative to previous bull market runs, according to Bloomberg.
The company's latest results show how tightly its fortunes remain tied to the token. Strategy recorded a $21 billion gain on its digital assets in the third quarter, snapping a four-quarter streak of losses as a late-summer bitcoin rally lifted its holdings, Quartz reported.
Conclusion
Saylor's message on Tuesday was unambiguous: he believes bitcoin's bear market ended just under $60,000, that the price will move back above $100,000, and that Strategy will fund further purchases by issuing credit into what he called a new bull market. He gave no date for the six-figure target, framing it instead within a long-term forecast of 20% to 30% annual growth.
The next concrete test for the company arrives by Friday, when MSCI is expected to announce whether new eligibility rules will exclude Strategy from its global equity indexes, a decision JPMorgan has estimated could put up to $2.8 billion of flows at risk.
Frequently Asked Questions
What did Michael Saylor say about the bitcoin price bottom?
Saylor told Bloomberg Television on Tuesday that bitcoin bottomed just under $60,000 and is at "the beginning of a bull market." He said the price should move back into six figures beyond $100,000, though he gave no date for the target.
How much bitcoin does Strategy hold in October 2026?
Strategy holds 848,250 BTC after a fresh 250 BTC purchase disclosed earlier this month, making it the largest corporate holder of bitcoin among publicly listed companies. Saylor said the firm likely acquired more bitcoin than any other company this year.
What is the MSCI decision facing Strategy this week?
MSCI is expected to announce by Friday whether new eligibility rules will exclude companies it deems primarily engaged in accumulating assets, which could push Strategy out of its global equity indexes. JPMorgan estimated exclusion could trigger up to $2.8 billion in outflows.
What is Saylor's long-term bitcoin price forecast?
Saylor said he expects bitcoin to grow 20% to 30% a year over the next two decades, stressing that he is not a short-term trader. He did not attach a date to his call for a return above $100,000.
Why did Strategy sell bitcoin earlier this year?
Saylor introduced a capital framework allowing Strategy to sell bitcoin and common stock to build cash reserves and buy back interest-bearing preferred stock during the downturn. He said the selling is not the plan going forward and that Strategy should be viewed as a structured finance company.