Bitcoin continues to be the talk of the town. While some predict major swings, MicroStrategy founder and Bitcoin advocate Michael Saylor remains unwaveringly optimistic about its future. But what’s fueling this confidence, and why does he think Bitcoin won’t see a crash in 2024?
Michael Saylor Predicts Unstoppable Rise of Bitcoin
Michael Saylor is not one to mince words. According to him, Bitcoin will not return to lower price levels such as $60,000 or even $30,000.
On the contrary, he expects the crypto to continue to climb . “I don’t think Bitcoin will ever hit $60,000 or $30,000 again,” he said in a recent interview with CNBC. “I think we’re going to go up from here.”
Saylor is even planning a celebration to mark a major milestone. “I’m planning the $100,000 party,” he announced enthusiastically.
“I would be surprised if we don’t break $100,000 before the end of 2024.” For him, the $100,000 milestone is not just speculation, but an imminent step in the evolution of Bitcoin.
He attributes this confidence to the recent shift in the political landscape. “The victory of certain political leaders has very decisively settled the future of crypto and Bitcoin in the United States,” he said. “I don’t really see any threats in the short term.” For Saylor, the political winds are blowing in Bitcoin’s favor, strengthening its position on the world stage.
One of the key elements of Michael Saylor's optimism lies in the proposed Bitcoin Strategic Reserve Act in the United States.
The bill, if passed, would set a goal for the U.S. government to accumulate one million Bitcoins over five years, or about 5% of the total supply.
Saylor calls the initiative "the biggest deal of the 21st century." He says it could add trillions of dollars to the U.S. economy. "If we pass this bill as it's currently written, it's a $16 trillion benefit to the United States over 21 years," he said.
Additionally, Saylor sees the prospect of a clearer and more favorable regulatory environment as a positive. “We’re going to see a lot more pro-Bitcoin policies,” he predicted. “We’re going to see a framework for digital assets, and we’re going to see the end of the war on crypto.” He believes that this regulatory development will boost Bitcoin adoption and encourage institutional investors to get in on the action.
Finally, Bitcoin’s growing adoption by financial institutions is boosting its confidence. With companies like MicroStrategy investing heavily in Bitcoin, institutional demand is steadily increasing. “Every purchase will increase in purchasing power,” said financial analyst Rajat Soni, echoing Saylor’s sentiments. This momentum could propel Bitcoin to new highs, supported by renewed investor confidence.