Michael Saylor, executive chairman of Strategy, urges investors to increase Bitcoin exposure as he predicts it might reach $1 million soon. A recent analysis highlights low volatility, potentially signalling a major price move. Saylor’s views reflect a long-term belief in Bitcoin’s transformative potential compared to historical innovations like electricity.
Michael Saylor, the executive chairman of Bitcoin-focused Strategy, has recently tweeted advice for crypto enthusiasts to increase their investments in Bitcoin (BTC) while there’s still time, as he anticipates skyrocketing prices. Saylor’s optimism is evident as he believes that Bitcoin could soon hit the $1 million mark, urging investors to act before it’s too late.
In his tweet, Saylor presented a table detailing the exposure of prominent US fund managers to Bitcoin exchange-traded funds (ETFs). Only five companies—Fidelity, Charles Schwab, Wells Fargo, Mariner, and Fisher Investments—have unrestricted access to Bitcoin ETFs. Collectively, they’ve invested $19.149 billion in Bitcoin. In contrast, other entities with restrictions have a combined investment of $20.886 billion in BTC products, highlighting a significant gap.
Saylor is expressing concern that the hesitance among institutional investors may soon dissipate. He warns that by the time financial advisors deem it acceptable to invest in Bitcoin, its price could soar to $1 million. He goes further to assert that when the consensus is that Bitcoin is a wise investment, the price might reach $10 million.
In a bold move, Saylor’s company announced earlier this week that they acquired 15,335 BTC for an impressive $1.42 billion. With this addition, Strategy’s total Bitcoin holdings have now reached 553,555 BTC, valued around $37.90 billion—certainly a testament to Saylor’s bullishness towards the cryptocurrency.
Recently, in an interview with Ryan Rasmussen, the head of research at Bitwise Invest, Saylor was asked about Warren Buffett’s persistent skepticism towards Bitcoin. Saylor sees this as a misunderstanding akin to not grasping the transformative power of electricity back in the late 19th century. He strongly believes Bitcoin represents a paradigm shift in investments.
On the technical front, cryptocurrency analyst Ali Martinez has offered insights into Bitcoin’s upcoming price movements, providing a chart featuring Bollinger Bands analysis on the four-hour timeframe. The chart indicates a period of low volatility, which historically precedes significant price fluctuations. Martinez believes a substantial price adjustment could be imminent for Bitcoin, which many traders will be watching closely.
