Michael Saylor Forecasts Bitcoin to Hit $100K by Year-End

MicroStrategy CEO Michael Saylor has predicted that Bitcoin will reach $100,000 by the end of 2024.

In a November 14 interview with CNBC, Saylor shared his optimism, announcing plans for a “New Year’s Eve” celebration to mark Bitcoin’s potential all-time high.

“I believe Bitcoin will continue to rise from here. I’m already planning the $100,000 party, likely to be on New Year’s Eve at my house. I’d be surprised if we don’t hit $100,000 in November or December,”

Saylor said.

When asked about potential risks that might cause Bitcoin to dip below $30,000, Saylor expressed confidence that Bitcoin would not fall below $60,000.

Bitcoin recently reached a new all-time high of over $93,400 following the release of the U.S. CPI report on November 13. As of now, BTC is trading at $89,753.71, reflecting a 1.8% decline in the past 24 hours, according to data from CoinGecko. Bitcoin had previously surged past $90,000, reaching a record $93,480 before easing slightly. Market analysts believe this rally is driven by expectations of a crypto-friendly presidency under Donald Trump.

Notably, Saylor attributed Bitcoin’s “bull run” to Trump’s victory and the Republican Party’s control over the House of Representatives and Congress. He described the outcome of the U.S. election as “the biggest thing for Bitcoin in the last four years.”

“This is incredibly bullish for crypto. We’ll see more pro-Bitcoin policies, a clear digital asset framework, and an end to the war on crypto,” Saylor stated.

Meanwhile, Saylor disclosed that MicroStrategy has invested an additional $2 billion to acquire 27,200 BTC at an average price of $74,463 per coin. This acquisition increases the company’s total Bitcoin holdings to 279,420 BTC. MicroStrategy has spent nearly $12 billion on Bitcoin purchases and recently announced plans to raise $42 billion through debt and equity sales to further expand its Bitcoin reserves.

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