By Key Points
- Bitcoin Bull Run: Michael Saylor sees Bitcoin hitting $100K by December.
- Pro-Bitcoin Policies: Trump’s election fuels optimism in the crypto space.
- MicroStrategy’s Stash: $28B worth of Bitcoin if $100K is reached.
- $100K Party: Saylor plans a New Year’s Eve celebration.
Bitcoin price prediction is dominating conversations after Michael Saylor’s bold claim that the cryptocurrency will breach $100K by the end of 2024.
The MicroStrategy co-founder believes the milestone is within reach, particularly with crypto-friendly policies expected under President-elect Donald Trump’s administration.
Since Trump’s election victory, Bitcoin has soared, reaching $88,360 after touching $93,477 earlier this week. The surge reflects renewed confidence among investors, who see regulatory relief and pro-crypto policies on the horizon.
Saylor, speaking to CNBC, attributed the current bull run to Trump’s promises to reform the regulatory landscape. He specifically noted Trump’s commitment to removing SEC Chair Gary Gensler, a figure widely seen as anti-crypto.
“The election of Trump is incredibly auspicious for Bitcoin and the entire digital asset industry,” Saylor said.
Bitcoin is Manifest Destiny for the United States. My discussion of The Red Wave, MicroStrategy’s $42 Billion Plan, the compelling logic of the Strategic #Bitcoin Reserve, and getting ready for the 100K party, with @MorganLBrennan. pic.twitter.com/fvkwRnCzlU
— Michael Saylor⚡️ (@saylor) November 14, 2024
MicroStrategy and the $100K Bitcoin Price Target
MicroStrategy, the Virginia-based business intelligence firm, has become synonymous with Bitcoin price predictions due to its aggressive Bitcoin accumulation strategy.
The company now holds 279,420 BTC, worth $25 billion at current prices. If Bitcoin reaches $100K, that stash would grow to $28 billion, cementing MicroStrategy’s position as a major player in the crypto space.
Saylor, who has been a vocal Bitcoin advocate since 2020, has made bold predictions in the past. Earlier this year, he suggested Bitcoin could reach $13 million per coin over the next 21 years. While that timeline may seem distant, his $100K forecast appears much more immediate, especially given the current momentum.
To fund its Bitcoin purchases, MicroStrategy has used innovative financing methods, including debt issuance. This strategy has made the company a proxy for investors seeking exposure to Bitcoin without directly buying the cryptocurrency.
“I’m planning the $100K party for New Year’s Eve at my house,” Saylor said, reflecting his optimism.
What’s Driving the Bitcoin Price Prediction?
The bullish sentiment around Bitcoin price prediction is largely tied to Trump’s return to the White House. His pro-Bitcoin stance marks a significant shift in U.S. policy, with promises to support digital assets and reform regulatory oversight.
The crypto industry has faced intense scrutiny from the SEC, which has targeted firms over alleged unregistered securities. Trump’s election is expected to ease this pressure, encouraging greater adoption and institutional investment in Bitcoin.
Bitcoin’s status as “digital gold” continues to attract investors seeking a hedge against inflation and economic uncertainty. With a fixed supply of 21 million coins, the asset is viewed as a store of value, particularly in volatile market conditions.
Is $100K Achievable Before Year-End?
While skeptics question the feasibility of Bitcoin reaching $100K in just over a month, the crypto market has defied expectations before. The current rally, fueled by political optimism and institutional interest, shows no signs of slowing down.
Saylor’s confidence, coupled with the market’s reaction to Trump’s election, suggests the $100K milestone is closer than many believe. As 2024 draws to a close, all eyes are on Bitcoin’s price trajectory and whether Saylor’s Bitcoin price prediction will come true.
