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Bitcoin Price Stalls at $115K as Analysts Clash Over $250K or 70% Drawdown
Bitcoin’s increasing attractiveness to institutional investors may come at the cost of retail traders losing the adrenaline rush that has long defined the asset, according to MicroStrategy executive chairman Michael Saylor.
A Conundrum of Growth and Excitement
Speaking on the Coin Stories podcast with Natalie Brunell, Saylor described Bitcoin’s transition as a “conundrum.”
“You want the volatility to decrease so the mega institutions feel comfortable entering the space and size,” Saylor said. “But if the volatility decreases, it’s going to be boring for a while, and because it’s boring for a while, people’s adrenaline rush is going to drop.”
He framed this stage as a natural part of Bitcoin’s life cycle, noting that the current slowdown signals maturity rather than weakness.
Price Stalls After Record High
Saylor’s comments come as Bitcoin has cooled off since reaching a new all-time high of $124,100 on Aug. 14. At the time of writing, the asset trades around $115,760, near the same level as a month ago. While the Federal Reserve’s Sept. 17 interest rate cut was largely priced in, analysts suggest further cuts later this year could provide new momentum.
Divided Opinions Among Bitcoiners
Market watchers remain split on where Bitcoin will head next. Arthur Hayes predicts a surge to $250,000 by year-end, others expect $150,000, while analyst PlanC believes the peak won’t arrive in 2025 at all. On the other hand, Benjamin Cowen has warned of a possible 70% drawdown from the eventual top.
The Digital Gold Rush Ahead
Despite short-term uncertainty, Saylor insists this is only the beginning. He envisions 2025 to 2035 as Bitcoin’s “digital gold rush,” with new products, business models, mistakes, and fortunes along the way.
Currently, publicly listed companies hold nearly $117.91 billion worth of Bitcoin, according to BitcoinTreasuries.NET, underscoring the growing institutional footprint.
