The founder of MicroStrategy is throwing a party in anticipation of Bitcoin hitting $100,000 this year.
He’s confident that the cryptocurrency won’t drop to $60,000, despite some analysts predicting otherwise.
The bullish case for Bitcoin
In an interview with CNBC, Saylor firmly stated, “I don’t think it is going to $60,000, it is not going to $30,000. I think it’s going to go up from here.”
Saylor believes that Donald Trump’s election win has positively influenced the future of crypto in the U.S., saying it “very decidedly” settled things for Bitcoin. He added that he doesn’t see any immediate threats on the horizon.
He said he’d be surprised if we don’t hit $100,000 before 2025, and in fact, he’s already planning a celebration for when that milestone is reached, thinking New Year’s Eve at his place!
Keith Alan, co-founder of trading resource Material Indicators, echoed Saylor’s optimism, suggesting that Bitcoin could reach the $100,000 level as soon as November 28—just in time for Thanksgiving.
Caution from other analysts, but why so bearish?
Not everyone is on the same bandwagon. Ki Young Ju, CEO of CryptoQuant, warned that Bitcoin might end the year below $59,000 due to an overheated futures market.
Despite the warnings of volatility and potential liquidations, many traders remain hopeful about Bitcoin’s upward trajectory.
Expect high volatility and more liquidations, said pseudonymous trader Ash Crypto to their followers on X.
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
Rajat Soni, a financial analyst, shared his perspective as well, he doesn’t sweat the price when buying Bitcoin because he believes every purchase will increase in value over time.
The SEC and future policies
Saylor also weighed in on speculation regarding SEC Chair Gary Gensler potentially resigning when Trump takes office next year.
He stated that whoever steps into that role will have a pivotal influence on the crypto industry.
“This is incredibly bullish for digital assets. We’re going to see more pro-Bitcoin policies and an end to the war on crypto.”
At the Cantor Crypto Conference on November 13, Saylor called the proposed U.S. Strategic Bitcoin Reserve Bill, aimed at accumulating 1 million BTC over five years, the greatest deal of the 21st century.
He argued that if this bill passes as drafted, it could provide a $16 trillion benefit to the U.S. over 21 years.
Saylor even suggested that if they double down on this initiative, it could yield $30 trillion benefit!
Of course, as other experts are already warned, Galaxy Digital founder Mike Novogratz cautioned that there’s a low probability Trump will follow through on establishing a Bitcoin strategic reserve during his presidency.
