Crypto Winter Is Not Coming: Michael Saylor Declares the Bear Market Dead

Crypto Winter Is Not Coming: BTC’s Limited Supply Could Spark Price Surge

Michael Saylor of Strategy has dismissed concerns that there will be another crypto market winter. He predicted that Bitcoin would reach $1 million due to its growing popularity and limited daily supply.

Winter is not coming back. We’re past that phase; if Bitcoin’s not going to zero, it’s going to $1 million.

Saylor

Bitcoin miners are selling about 450 Bitcoin (BTC) every day, according to Saylor. According to CoinMarketCap, this is equivalent to almost $50 million at its current price of $109,859.

If that $50 million is bought, then the price has got to move up, Saylor

Saylor Says Public Companies Are Draining Bitcoin’s Supply: Is Price Explosion Ahead?

He went on to say that more and more public businesses are buying Bitcoin, which means they are buying the whole natural supply. As per Saylor Tracker data, Saylor’s company, Strategy, has amassed 582,000 Bitcoin since it started buying in 2020, which is about equivalent to $63.85 billion.

At the current price level, it only takes $50 million to turn the entire driveshaft of the crypto economy one turn.

Saylor

It could be more plausible, Saylor added, to predict that Bitcoin will plummet by roughly $200,000 per coin if it rises to $500,000 or $1 million.

Trump, BlackRock, and Nations Back Bitcoin: Saylor Says Risk Is Over

He reaffirmed US President Donald Trump’s support for Bitcoin, which is also supported by SEC Chair Paul Atkins and US Treasury Secretary Scott Bessent. Additionally, he mentioned that conventional institutions are getting ready to provide custody services for Bitcoin.

Bitcoin has gotten through its riskiest period; the accounting has been corrected,

Saylor

Saylor also mentioned the daily purchases of Bitcoin by BlackRock and other Bitcoin ETF providers, as well as the entry of country states into the market. For instance, on May 28, Pakistan is taking steps to create a strategic Bitcoin reserve, according to Bilal Bin Saqib, the president of the country’s crypto council.

For more up-to-date crypto news, you can follow Crypto Data Space.