Michael Saylor expects Bitcoin will reach $100K by year-end
The US election prompted MicroStrategy Executive Chairman Michael Saylor to predict Bitcoin will reach $100,000 by year-end.
Bitcoin hit a record high above $93,200 on Wednesday after the US CPI report.
MicroStrategy added $2.03 billion in Bitcoin on Monday, bringing its total to 279,420 BTC.
Michael Saylor, MicroStrategy's executive chairman, expects Bitcoin will reach $100,000 by 2024, calling the US election the most crucial event for Bitcoin in four years.
Saylor told CNBC on Friday that he will organize a New Year's Eve party at his house, anticipating Bitcoin to hit a record high. He downplayed fears that Bitcoin may fall below $30,000, saying it might not dip below $60,000.
“It should rise from here. My $100,000 celebration will likely occur on New Year's Eve at my residence. “I would be surprised if we don’t go through $100,000 in November or December,” Saylor said.
The cryptocurrency hit a record high of almost $93,200 on Wednesday after the US CPI report. The stock is at $89,800 on Friday, up 3% in 24 hours.
Saylor's optimism reflects Bitcoin's recent gains, boosting his confidence in its year-end ascent.
Bitcoin hits $75,000 after Trump wins.
The executive chairman of MicroStrategy connected Bitcoin's current bull run to Donald Trump's election and the GOP's House and Congress control.
After Trump was elected president, Bitcoin reached a record $75,000, suggesting a favorable market trend. Ethereum (ETH), Solana (SOL), and meme currencies follow Bitcoin as a crypto benchmark.
According to the Stand With Crypto campaign, 272 pro-crypto House candidates, mostly Republicans, have won seats, suggesting strong legislative support for the business.
On Monday, MicroStrategy invested $2 billion in Bitcoin, bringing its total to 279,420 BTC. As the largest corporate Bitcoin holder, MicroStrategy gains with this acquisition.
