Michael Saylor says Bitcoin’s bear market is over and expects the cryptocurrency to move back above $100,000, just days before MSCI is due to decide whether his company still fits the rules f
Michael Saylor says Bitcoin’s bear market is over and expects the cryptocurrency to move back above $100,000, just days before MSCI is due to decide whether his company still fits the rules for major stock indexes.
The Strategy co-founder and executive chairman told Bloomberg Television at DC Fintech Week that favorable regulation and accelerating adoption by banks had put Bitcoin at the start of another bull market.
24-09-23, Michael Saylor - PULLOUT 5 (6:48)“It should definitely move back into the six figures beyond $100,000,” Saylor said. “We hit the bottom around slightly below $60,000, I think we bounced off it. Now, we are moving up into the 80s.”
Saylor’s call follows a broader recovery in crypto markets. Bitcoin approached $87,000 on Oct. 5, its highest level in months, as softer U.S. jobs data briefly boosted hopes for easier monetary policy.
It later gave back some of those gains as oil prices, bond yields and ETF outflows weighed on markets.
His forecast is also broadly in line with Wall Street estimates. Citi has put a 12-month Bitcoin target around $113,000, while TD Cowen sees the asset near $109,000 by year-end.
Strategy remains Bitcoin’s largest corporate holder. The company bought another 250 BTC for $21.5 million between Oct. 5 and Oct. 11 at an average price of $86,194, taking its holdings to 848,250 BTC.
Saylor’s bullish call comes as Strategy faces a separate test from index provider MSCI.
MSCI Inc. is a global financial data and analytics company known for its indexes, investment research and risk-management tools used by investors and financial institutions.
On Aug. 3, MSCI proposed new rules aimed at excluding certain “non-operating companies” from its Global Investable Market Indexes.
Companies would first face an operating-assets screen, followed by five financial tests if they failed the first test.
Feedback closed Sept. 30, with results due on or before Oct. 16. Any changes are proposed for the November index review.
A negative decision would not necessarily mean Strategy is removed immediately.
Existing constituents receive buffers and generally must fail the new screen for two consecutive review periods before being excluded.
The stakes are significant. JPMorgan estimated in 2025 that an MSCI exclusion could trigger roughly $2.8 billion of Strategy outflows, rising to as much as $8.8 billion if other index providers followed.
MSCI considered a narrower exclusion for digital-asset treasury companies last year but abandoned it in January 2026, opting instead for the broader review now underway.
Bitcoin was trading at $83,170 on Tuesday, well below its October 2025 record above $126,000 but sharply above the around $60,000 levels reached during February’s selloff.
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