Key facts
- Michael Saylor believes Bitcoin has entered a new bull market.
- Saylor predicts Bitcoin could climb above $100,000.
- Bitcoin was trading near $83,000 as of October 13.
- Saylor stated Bitcoin hit its bottom slightly below $60,000.
- Strategy purchased 250 BTC for $21.5 million between Oct. 5-11.
- Strategy holds 848,250 BTC.
Michael Saylor, executive chairman of Strategy, believes Bitcoin has entered a new bull market and predicts the cryptocurrency could climb above $100,000 again. He cited improving economic conditions, institutional adoption, and growing demand for Bitcoin-backed financial products as key drivers for his optimistic outlook.
In a Bloomberg Television interview on October 13, Saylor stated that Bitcoin had already bottomed out, hitting its low slightly below $60,000, and has since recovered into the $80,000 range. Bitcoin was trading near $83,000, approximately 34% below its October 2025 record high of $126,251. The market experienced about $19 billion in liquidations shortly after that peak, which put pressure on leveraged cryptocurrency positions.
Saylor attributed his positive outlook to changing monetary conditions, regulatory developments, and increasing institutional participation, expecting financial institutions to expand their cryptocurrency services. Strategy plans to increase its Bitcoin holdings, financing purchases through issuing additional securities and maintaining its digital credit operations. The company recently acquired 250 BTC for approximately $21.5 million between October 5–11, bringing its total holdings to 848,250 BTC. Strategy also repurchased $192.4 million of its preferred shares.
Despite Saylor's bullish stance on Bitcoin, Strategy faces potential exclusion from MSCI's global equity indexes due to proposed rule changes. The changes could affect companies primarily engaged in asset accumulation rather than operating businesses. Saylor criticized the proposal, arguing Strategy should remain classified as an operating company, and JPMorgan estimated that such an exclusion could put approximately $2.8 billion in investment flows at risk. MSCI is expected to announce its decision on Friday.