Michael Saylor, strategy executive chairman, believes Bitcoin has entered a new bull market and could climb above $100,000 again. Speaking on October 13, Saylor pointed to improving economic conditions, institutional adoption, and growing demand for Bitcoin-backed financial products as reasons for his optimistic outlook.
Bitcoin currently trades near $83,000, approximately 34% below its October 2025 record high of $126,251. The cryptocurrency experienced roughly $19 billion in liquidations after reaching that peak, placing pressure on leveraged positions.
In a Bloomberg Television interview, Saylor predicted Bitcoin would recover above $100,000 after months of weak trading. "We hit the bottom around slightly below $60,000," he said, noting that Bitcoin had since recovered into the $80,000 range. He did not provide a specific timeline for reaching six figures.
Saylor attributed his outlook to changing monetary conditions, regulatory developments, and increasing institutional participation. He expects Bitcoin to benefit from banking adoption and demand for digital credit as financial institutions expand their cryptocurrency services. He projected Bitcoin could deliver annualized growth of 20% to 30% over the coming years.
MicroStrategy's Bitcoin Strategy
MicroStrategy plans to increase its Bitcoin holdings as the market recovers. During October 5–11, the company purchased 250 BTC for approximately $21.5 million, bringing its total holdings to 848,250 BTC. The company also repurchased $192.4 million of preferred shares during this period.
The company plans to issue additional securities to finance purchases while maintaining its digital credit operations. Its financing model includes preferred shares, cash reserves, and equity issuance to manage its Bitcoin holdings and financial obligations.
MSCI Index Eligibility Uncertainty
MicroStrategy faces uncertainty over proposed changes to MSCI's global equity index rules. The proposal could exclude companies primarily engaged in accumulating assets rather than operating businesses.
Saylor criticized the proposed MSCI index eligibility changes and argued that MicroStrategy should remain classified as an operating company. He described MSCI's position as "a bad precedent for them and for the industry." JPMorgan previously estimated that a potential exclusion could put approximately $2.8 billion in investment flows at risk.
MSCI was expected to announce its decision shortly following Saylor's comments, while MicroStrategy continued defending its business classification.
