Strategy founder Michael Saylor remains confident that Bitcoin's bull market is still active, noting in an interview with Bloomberg that previous bearish catalysts are transitioning into positive tailwinds.
According to Saylor, prior restrictive trade, foreign, and monetary policies are being replaced by a favorable regulatory environment, increased banking adoption, and the acceleration of tokenized securities and digital credit networks. He also addressed concerns that the artificial intelligence trade might starve Bitcoin of capital, arguing instead that capital will eventually rotate into scarce assets such as gold, real estate, and Bitcoin once the AI trade concludes.
Strategy Holdings and Market Demand
Strategy recently increased its Bitcoin holdings to a record 848,250 BTC, valued at approximately $70 billion, following a $21 million purchase. However, research firm Ecoinometrics noted a slowdown in the firm's recent Bitcoin acquisition pace compared to its expenditures on preferred share buybacks, such as STRC.
Data from CryptoQuant indicates that overall Bitcoin demand shifted from deep negatives in late September to neutral in mid-October. Market participants are closely watching upcoming U.S. inflation data and the Federal Reserve's rate decisions to determine whether demand will turn positive.
Future Outlook
Bitcoin's price previously surged by 51% from July lows of $57,800 to over $87,000, before trading sideways between $80,000 and $87,000 in early October. Saylor plans to issue additional preferred stocks and digital credit during the bull run, with expectations that Bitcoin could surpass $100,000, though it remains to be seen how future proceeds will be allocated toward Bitcoin purchases.
