Michael Saylor, executive chairman of Strategy, (NASDAQ:MSTR) says Bitcoin has entered the early stage of a new bull run and could clear $100,000 sometime in the next 12 months. But he did no
Michael Saylor, executive chairman of Strategy, (NASDAQ:MSTR) says Bitcoin has entered the early stage of a new bull run and could clear $100,000 sometime in the next 12 months. But he did not promise it by year-end.
In a recent interview with Schwab Network, Saylor said Bitcoin bounced off its 200-week moving average, a level that usually marks the end of a bear market, and has since rallied about $20,000.
"I can't be sure it happens by the end of the year, but I feel like we're definitely moving back into the six figures at this point," said Saylor.
He named digital credit, banks lending against Bitcoin and tokenized securities as the main tailwinds. Miners produce about $1 billion of new Bitcoin a month, he noted, and each $1 billion of digital credit issued absorbs that supply.
Monetary policy remains the biggest risk, since Bitcoin tends to swing harder than other risk assets.
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"The final boss that generally drives all assets is monetary policy. Bitcoin tends to react like risk squared right now," Saylor said during the interview.
Saylor welcomed the stalled Clarity Act, calling the 630-page bill a "bill of restrictions". He pointed to SEC, CFTC and Treasury guidance on tokenization, derivatives and digital currency as the better path.
Saylor said that Strategy holds about 845,000 Bitcoin, worth $70 billion to $72 billion, plus $5 billion in cash. It bought 334 Bitcoin in the first week of October while spending $176.3 million to repurchase its STRC preferred stock.
During the conversation he said that he anticipates annual growth of 20% to 30%, driven by expanding digital credit, and plans to introduce daily dividends on preferred securities, pending shareholder approval.
He also argued that AI-driven wealth will chase scarce assets, adding that "robots can't make more Bitcoin."
A shareholder vote on daily dividends is due later this month. Third-quarter results follow on Oct. 29.
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