Michael Saylor Predicts Bitcoin Will Surpass $100,000 by Year-End
Michael Saylor, co-founder of MicroStrategy, projected during a CNBC interview on November 14, 2024, that Bitcoin's value could exceed $100,000 by year-end. He announced plans for a "Bitcoin $100,000 party," expressing optimism about reaching this milestone in November or December.
Bitcoin is Manifest Destiny for the United States. My discussion of The Red Wave, MicroStrategy's $42 Billion Plan, the compelling logic of the Strategic #Bitcoin Reserve, and getting ready for the 100K party, with @MorganLBrennan. pic.twitter.com/fvkwRnCzlU
— Michael Saylor⚡️ (@saylor) November 14, 2024
“I’m planning the $100,000 party, and I’m thinking that it’s probably going to be New Year’s Eve at my house,” Saylor stated. “So, I will be surprised if we don’t go through $100,000 in November or December.”
Bitcoin Unlikely to Retreat to $60,000
Saylor expressed strong confidence in Bitcoin's upward trajectory, dismissing any chances of a significant decline. He ruled out Bitcoin dropping to key levels of $30,000 or $60,000, predicting a steady rise instead.
“I don’t think it is going to $60,000, it is not going to $30,000, I think it is going to go up from here,” he explained.
Saylor attributed his optimism to changes in the US political landscape, particularly the influence of former President Donald Trump, which he believes has bolstered Bitcoin's position in the country.
He stated:
“I don’t really see any threats on the near-term horizon.”
Keith Alan, co-founder of Material Indicators, predicted Bitcoin could reach $100,000 by November 28, coinciding with the U.S. Thanksgiving holiday. Conversely, Ki Young Ju, CEO of CryptoQuant, warned Bitcoin might end the year below $59,000 due to risks from an overheated futures market.
Pseudonymous trader Ash Crypto suggested that while significant price fluctuations and liquidations are expected, the overall trend remains bullish for Bitcoin. He stated:
Bitcoin is entering the thrill phase 🚀
Expect high volatility, more liquidations but overall the price trend will be to the
upside making new highs.$150,000 BTC is coming in 2025 pic.twitter.com/fnzpa6pqcy
— Ash Crypto (@Ashcryptoreal) November 14, 2024
Saylor Predicts Pro-Bitcoin SEC Shift
Saylor discussed potential changes in crypto regulation, speculating on Gary Gensler's possible resignation as chair of the US Securities and Exchange Commission (SEC) if Donald Trump returns to office. He anticipates a shift toward pro-Bitcoin policies under new SEC leadership.
At the Cantor Crypto, Digital Assets & AI Infrastructure Conference on November 13, Saylor addressed the proposed US Strategic Bitcoin Reserve Bill, which aims for the government to acquire 1 million Bitcoins over five years. He described the bill as a transformative opportunity, projecting a $16 trillion benefit over 21 years if successful. Even if it fails, existing Bitcoin assets would still hold significant value for Americans.