- MicroStrategy executive chairman Michael Saylor expects Bitcoin to top $100,000 within the next year, though he stopped short of a year-end target.
- Saylor said Bitcoin is at “the beginning of the next bull run” after bouncing off the 200-week moving average, a key bear market floor.
- He described the stalled CLARITY Act as “a bill of restrictions,” noting that regulators subsequently issued guidance that “provided rights to the industry.”
- Clear Street raised its Strategy price target to $211 from $201 ahead of the company’s Oct. 29 earnings, while keeping a ‘Buy’ rating.
Strategy (MSTR) executive chairman Michael Saylor said on the Charles Schwab Network that Bitcoin is at “the beginning of the next bull run.” He expects the cryptocurrency to break above $100,000 “sometime in the next 12 months.”
Saylor noted that Bitcoin “bounced off the 200-week moving average,” a level he described as the usual floor for a bear market. It has since rallied about $20,000 from there.
He stopped short of naming a year-end target. “I can’t be sure it happens by the end of the year, but I feel like we’re definitely moving back into the six figures at this point,” Saylor said.
Saylor attributed recent headwinds to restrictive foreign, monetary, and trade policy, along with an AI boom drawing capital away from crypto. He said those pressures are now being priced in.
He pointed to digital credit, banks lending against Bitcoin, and supportive guidance from the Treasury, CFTC, and SEC as tailwinds. Monetary policy remains the biggest swing factor, he added.
Saylor explained why the stalled Digital Asset Clarity Act was good news. He called the legislation “a bill of restrictions,” when what the industry needed was “a bill of rights.”
After the bill stalled, regulators issued guidance that “provided rights to the industry,” including rules on tokenization, digital derivatives, and prediction markets. Meanwhile, Clear Street raised its Strategy price target to $211 from $201 ahead of its Oct. 29 earnings.
The new target still sits below the Street average of $239.27, according to Koyfin data. Strategy holds roughly 848,517 BTC, valued at about $69.92 billion at current prices.
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