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"10x Hereon!" Michael Saylor Explains Why You Should Buy Bitcoin Now

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By Jessy Sloan - - 5 Mins Read
Michael Saylor; vintage profile image
Michael Saylor | YT/VotMedia


Michael Saylor; vintage profile image
Michael Saylor | VotMedia


MicroStrategy, the enterprise software and business intelligence company, has been steadily accumulating Bitcoin, and its Executive Chair, Michael Saylor, believes that the world's largest cryptocurrency is on the brink of a massive surge.


In the third quarter, the company added 6,067 Bitcoins to its holdings, further solidifying its position as a top holder in the digital asset market. Saylor's optimism about Bitcoin's future prospects centers on various factors that could drive its price even higher.

Catalysts for Bitcoin's Potential Surge

During an interview on CNBC's "Squawk On The Street," Michael Saylor explained the key reasons behind his belief in Bitcoin's potential for substantial growth.


Here are the crucial factors he highlighted:

MicroStrategy's Expanding Bitcoin Holdings

The company's continuous accumulation of Bitcoin, with 158,400 coins in its treasury, is a clear sign of its long-term commitment to the cryptocurrency.

Spot Bitcoin ETF Approval

Saylor pointed out that the recent Bitcoin price increase is partially attributed to growing optimism regarding approving a spot Bitcoin exchange-traded fund (ETF). He firmly believes that when such an ETF is approved, it will accelerate Bitcoin adoption and raise institutional awareness, which, in turn, will drive prices higher.

Upcoming Bitcoin Halving

The next Bitcoin halving is scheduled for April 2024, which will reduce the number of Bitcoin rewards per block mined by 50%. This event will significantly impact the Bitcoin supply dynamics.


Saylor explained that most of the selling in the Bitcoin market currently comes from miners who need to cover operational expenses and debts. This amounts to about $1 billion per month or $12 billion per year. However, after the halving, this selling pressure will be halved, contributing to the reduction of Bitcoin supply in the market.

Historic Market Opportunity

Saylor emphasized that the current combination of increasing demand and a contracting supply is unusual in the history of Wall Street. He believes that for investors with a time horizon of 12 to 48 months, this presents an ideal entry point into the asset.

Bitcoin's Unique Value Proposition

Saylor compared Bitcoin to various traditional assets, highlighting its advantages. He described Bitcoin as a digital property without the risks and liabilities associated with commercial real estate, a digital commodity without the risks of gold, and a digital tech investment without the risks associated with big tech companies.


Saylor concluded by expressing his confidence in Bitcoin's future. He anticipates that as adoption accelerates and traditional financial institutions on Wall Street start incorporating Bitcoin into their offerings, the cryptocurrency market will evolve to the next level, potentially resulting in a tenfold increase in Bitcoin's value.


As of the time of publication, Bitcoin is trading at $34,663, reflecting a 1.07% decrease over the past 24 hours.



Bitcoin price chart
BTC price chart | TradingView



With a steadfast belief in Bitcoin's potential and a history of accumulating holdings, Michael Saylor's insights provide an exciting perspective on the future of the cryptocurrency market. 


While Bitcoin's price can be highly volatile, Saylor's outlook suggests that a huge growth may be on the horizon. Investors and enthusiasts are closely watching the developments in the crypto space as they eagerly anticipate the upcoming Bitcoin halving and the potential approval of a spot Bitcoin ETF.


Saylor's bullish stance on Bitcoin's long-term prospects is a profound voice in the ongoing conversation surrounding the digital asset's future.