Michael Saylor, the Chairman of Microstrategy, expects that Bitcoin’s demand will double after the halving as well as the approvals of spot Bitcoin ETFs by the U.S.-based SEC. The executive from Microstrategy said that the next year will become “pretty auspicious for the asset class.”
At the same time, he also mentioned the three important factors he expects to impact Bitcoin’s price to 5 million dollars a coin.
Demand For Bitcoin Doubles, As Per Saylor:
Michael Saylor, the Chairman of Microstrategy, discussed Bitcoin’s future on Monday in a press interview. The executive who is pro-bitcoin was simply asked about all the factors that could play an important role in driving Bitcoin’s price.
Saylor had explained how the demand and supply for BTC at the moment ‘are in balance right now.’ But then he also emphasized how there are around two events that will be able to enhance the crypto’s price.
The two events are:
- In next year, April, the halving when the supply of Bitcoin will be cut in half.
- The impending approvals for spot bitcoin ETFs by the SEC.
He stressed, at the time, “The demand has got to at least double. So the only thing that’s going to adjust there is the price in order to get to market.”
Saylor ardently believes that Bitcoin’s price will reach a solid 5 million dollars eventually. Recently, he said on X, “There are three things that are massive catalysts to cause an acceleration. Those three things don’t take us to $500,000, they take us to $5 million a coin.”
Then, he explained how the first point is “A spot ETF where someone can go ahead and buy $100 million in bitcoin by an ETF security.” The second will be “Your bank will custody it for you and lend against it,” while the third will be “the ability for businesses to mark their bitcoin investments up or down in their balance sheet based on fair value.”