Bitcoin Eyes $1M as Price Holds $109K and Saylor Predicts No More Winters
Michael Saylor, Executive Chairman of MicroStrategy, isn’t mincing words. In a recent interview with Bloomberg...
Quick overview
- Michael Saylor believes the crypto winter is over, predicting Bitcoin could reach $1 million due to institutional accumulation.
- Only 450 BTC are mined daily, while institutional players are absorbing this limited supply, creating a significant market impact.
- ARK Invest has raised its 2030 BTC price target to $2.4 million, citing factors like corporate demand and ETF inflows.
- Bitcoin's technical indicators show a bullish trend, with support levels suggesting a potential breakout above $109,400.
Michael Saylor, Executive Chairman of MicroStrategy, isn’t mincing words. In a recent interview with Bloomberg, he said the crypto winter is over and “If Bitcoin’s not going to zero, it’s going to $1 million.” He’s basing his confidence on a growing supply-demand imbalance driven by institutional accumulation.
Currently, only 450 BTC—worth approximately $50 million—are mined daily, according to CoinMarketCap. Meanwhile, institutional players, including ETF giants, are absorbing the limited flow, creating what Saylor calls a “driveshaft effect” in the crypto economy. With MicroStrategy holding 582,000 BTC, valued at nearly $63.85 billion, he says it takes little capital to move the market.
He added that a future BTC price of $500,000 to $1 million could be volatile but the long term is bullish.
Political Momentum and Institutional Demand
Saylor’s prediction is echoed by others. ARK Invest has raised its 2030 BTC price target to $2.4 million citing multiple adoption catalysts:
- Corporate and sovereign demand
- Scarcity driven by halving events
- Steady inflows from ETFs like BlackRock’s IBIT
On the political front, crypto-friendlier U.S. policy may be taking shape. Former President Donald Trump has endorsed Bitcoin, while key figures in his camp—including Treasury Secretary Scott Bessent and SEC Chair Paul Atkins—are open to digital assets.
Pakistan just launched a Strategic Bitcoin Reserve and analysts like Samson Mow are warning the U.S. is being left behind. Trump’s March proposal for a U.S. Bitcoin reserve is a direct response to this.
Bitcoin Holds $109K as Bulls Eye Breakout
Technically, Bitcoin is strong. After hitting $110,549, BTC/USD has pulled back slightly and is now consolidating at $109,266. The 2-hour chart shows price is stalling at the 0.236 Fibonacci retracement but is supported by a rising trendline from the June 6 low.
Key is that price is above the 50-EMA ($107,789) and 200-EMA ($106,186) so the medium term trend is up. Support levels to watch are $108,564 (0.382 Fib) and $107,952 (0.5 Fib).
Trade Setup:
- Entry: On confirmed bounce above $109,400
- Stop-loss: Below $107,950
- Target 1: $110,549
- Target 2: $111,821
- Risk Level: Moderate. Look for bullish engulfing or hammer candles at support
Conclusion
With institutional demand rising, political momentum building and technicals holding, Bitcoin’s path to $1 million no longer feels like fiction. It’s becoming a macro story. While volatility is part of the journey, the conviction behind Bitcoin’s long term value is stronger than ever.
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