Michael Saylor: Planning an end-of-year party for BTC to reach $100,000, won't retrace to $60,000

Author: Cointelegraph

Compiled by Felix, PANews

MicroStrategy founder and BTC longs Michael Saylor has ruled out the possibility of BTC falling to $60,000 (hovering around $60,000 for most of 2024).

Saylor said in an interview with CNBC on November 14th, ‘I don’t think BTC will retrace to $60,000, let alone $30,000, it will pump from the current price.’ According to CoinMarketCap, the trading price of BTC is about $89,168.

Saylor said Trump’s victory “clearly” defines the future of Cryptocurrency and BTC in the United States, adding that “I really haven’t seen any Unfavourable Information factors in the short term.”

BTC not breaking $100,000 before 2025 would be ‘surprising’

Saylor said, “I’m planning a party for BTC reaching $100,000”. “I think it might be on the eve of my New Year’s party at home, so if BTC doesn’t exceed $100,000 in November or December, I’d be surprised”.

In line with Saylor’s view, Keith Alan, co-founder of Material Indicators, said that BTC could reach $100,000 by November 28th or before Thanksgiving in the United States.

However, CryptoQuant CEO Ki Young Ju warned on November 9th that BTC may drop below $59,000 by the end of the year, pointing out that the overheated futures market is one of the main reasons he predicts a big dump at the end of the year.

BTC price; Source: CoinMarketCap

Some traders believe that, despite the Fluctuation may continue, they believe BTC will continue to pump.

Anonymous encryption trader Ash crypto said in a post on November 14th that: it is expected that high volatility will lead to more liquidations, but overall, the price trend will break through new highs.

Financial analyst Rajat Soni also stated on November 14 that he “doesn’t care about the price” when buying BTC, because “each purchase increases purchasing power.”

Saylor also commented on speculation that Gary Gensler, Chairman of the U.S. SEC, will resign after Trump takes office, stating that whoever takes over this position will play a “crucial role” in the cryptocurrency industry.

“I believe this is incredible Favourable Information for digital assets, and it is very beneficial for the encryption industry. We will see more policies supporting BTC, the establishment of digital asset frameworks, and the end of encryption litigation wars.”

The BTC Strategic Reserve Act is the ‘greatest trade’ of this century.

At the same time, at the digital asset and artificial intelligence infrastructure conference on November 13, Saylor declared that the US BTC Strategic Reserve Act is the “greatest deal of the 21st century.” Once passed, the Act will set a target for the US government to accumulate 1 million BTC within five years, approximately 5% of the total BTC supply.

“If we don’t pass this bill, all we’re doing is leaving the existing BTC on the balance sheet, valued at $30 trillion. If the bill passes, ‘based on the current draft, it will generate $16 trillion in revenue for the United States over 21 years.’

“If they decide to double the maximum limit of BTC, it will bring about $30 trillion in revenue.”

However, Mike Novogratz, the founder of Galaxy Digital, said that it’s unlikely for Trump to fulfill his promise of establishing a BTC strategic reserve during his term.

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