[Crypto Radar] Michael Saylor: "Bitcoin Has Bottomed... Will Break Above $100,000 Again"

Strategy Chairman Michael Saylor, whose company is the world's largest corporate holder of Bitcoin, said on Tuesday, October 13 (local time), that "Bitcoin will break above $100,000 again."

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Saylor made the remark in an interview with Bloomberg TV, saying that "Bitcoin bottomed out just below $60,000 and rebounded."

Bitcoin has fluctuated around $80,000 since mid-August this year. It remains about 30% below its record high of approximately $126,000, reached in October last year. Strategy's share price has followed a similar trajectory to Bitcoin.

Saylor recently unveiled a new capital management plan to respond to the bear market. Under the plan, the company could sell Bitcoin and its common stock to increase its cash reserves and buy back preferred shares. The aim was to secure liquidity and reduce financial leverage.

Saylor predicted that the company would increase its Bitcoin purchases and issue more securities to fund them. "We are entering a bull market," he said. "We expect to buy Bitcoin and issue credit instruments." He added, "Over the long term, we expect Bitcoin to rise by 20% to 30% annually over the next few years."

Although Saylor has offered an increasingly optimistic outlook for Bitcoin, Bloomberg noted that Strategy faces another potential setback. Morgan Stanley Capital International (MSCI), a global index provider, is considering new rules that could result in Strategy being excluded from its global stock indexes. If the company is excluded, it could face greater difficulty raising capital. MSCI is considering excluding companies that focus on accumulating assets rather than operating an actual business.