Michael Saylor, executive chairman of MicroStrategy, reiterated his bullish stance on Bitcoin during an appearance on CNBC's Closing Bell Overtime. He predicted that Bitcoin will overcome its current correction and begin to appreciate significantly towards the end of 2025, citing relentless institutional adoption as the primary catalyst.
Saylor emphasized that approximately 180 companies are now accumulating Bitcoin, with corporate and ETF purchases far exceeding the daily supply generated by miners. Specifically, miners produce around 900 BTC per day, while companies are buying 1,755 BTC daily and ETFs are acquiring an additional 1,430 BTC on average in 2025. This demand-supply imbalance is exerting upward pressure on prices.
He dismissed short-term macroeconomic headwinds and technical resistances, stating, "I think that as we work through the resistance of late and some macro headwinds, we’ll actually see Bitcoin start to move up smartly again toward the end of the year." Saylor also compared Bitcoin to gold, labeling it digital gold and projecting it will eventually become an asset class ten times larger than gold due to its superior technical attributes.
Recent market data shows Bitcoin trading between $111,369 and $113,301 over 24 hours, with a weekly range of $111,658 to $117,851. Despite a $2 billion liquidation event on Monday, analysts attribute the volatility to technical factors rather than weak fundamentals, aligning with Saylor's optimistic outlook.