TLDR
- Michael Saylor claims Bitcoin will reach $1 million, rejecting fears of another crypto winter
- Only 450 Bitcoin are available daily from miners for about $50 million, creating supply constraints
- US regulatory support from Trump administration and pro-crypto officials drives institutional adoption
- MicroStrategy holds 582,000 Bitcoin worth approximately $63.85 billion as of current prices
- Nation-states and corporations are creating Strategic Bitcoin Reserves, absorbing available supply
MicroStrategy CEO Michael Saylor has dismissed concerns about another crypto winter. He told Bloomberg that Bitcoin is headed to $1 million instead of crashing to zero.
Saylor pointed to supply constraints as a key driver for higher prices. Only 450 Bitcoin are available for sale each day by miners, worth roughly $50 million at current prices.
“If that $50 million is bought, then the price has got to move up,” Saylor explained. He said public companies are now buying “the entire natural supply” of Bitcoin.
BREAKING: BILLIONAIRE MICHAEL SAYLOR TELLS BLOOMBERG #BITCOIN IS GOING TO $1 MILLION AND THAT THERE WILL NEVER BE ANOTHER CRYPTO WINTER
COMPANIES AND ETFS "ARE BUYING THE ENTIRE SUPPLY." PARABOLIC SOON š pic.twitter.com/Vv7qSRIgst
— The Bitcoin Historian (@pete_rizzo_) June 10, 2025
Growing Institutional Demand Drives Price Higher
MicroStrategy has accumulated 582,000 Bitcoin since 2020. The company’s holdings are worth approximately $63.85 billion at current market prices.
The firm recently purchased an additional 1,045 Bitcoin for $110 million this week. Other companies like GameStop and Trump Media are also raising funds to add Bitcoin to their balance sheets.
BlackRock’s Bitcoin ETF has reached over $70 billion in assets within 341 trading days. The fund holds nearly 700,000 Bitcoin, showing strong institutional demand.
Saylor said Bitcoin ETF providers are buying Bitcoin daily. This creates consistent demand pressure on the limited supply available in the market.
US Government Support Strengthens Bitcoin’s Position
President Trump’s backing of Bitcoin has created a more favorable regulatory environment. Treasury Secretary Scott Bessent and SEC Chair Paul Atkins both support cryptocurrency adoption.
Traditional banks are preparing to offer Bitcoin custody services to clients. This marks a shift from previous years when major financial institutions avoided crypto services.
“Bitcoin has gotten through its riskiest period; the accounting has been corrected,” Saylor stated. He believes the regulatory uncertainty that previously held back adoption is now resolved.
The US Senate is working on pro-crypto legislation. A House bill aims to convert Trump’s Strategic Bitcoin Reserve executive order into permanent law.
Pakistan announced plans to establish its own Strategic Bitcoin Reserve in May. Other nation-states are considering similar moves to add Bitcoin to their reserves.
ARK Invest raised its Bitcoin price target to $2.4 million by 2030 in April. The asset manager increased its previous forecast from $1.5 million.
Saylor acknowledged that if Bitcoin reaches $500,000 or $1 million, it could see corrections of $200,000 per coin. However, he maintains that the overall trend remains upward due to continued institutional adoption and limited supply.
