Michael Saylor Predicts Continued Bull Run for Bitcoin

Bitcoin retains part of its summer growth at +40%, and Strategy founder Michael Saylor is confident: the bull market continues. In an interview with Bloomberg, he noted that previous bearish catalysts may turn into tailwinds. "We are at the beginning of a bull market. The headwinds were restrictive trade, external, and monetary policies. Now we are turning to tailwinds: a favorable regulatory environment, banking adoption, tokenized securities, and accelerating digital credit networks," he said.

The price of Bitcoin has risen by 51% – from a July low of $57.8K to over $87K. However, in the first half of October, it remains range-bound between $80K and $87K: for the last four days – below $84K ahead of key macro events. When asked if AI trading will deprive Bitcoin of capital, Saylor replied that it would be the opposite: when AI trading ends, capital will flow into scarce assets – real estate, gold, and Bitcoin.

Strategy's holdings reached a record 848,250 BTC (about $70 billion) after a recent purchase of $21 million – slightly above the previous high of 847.36K BTC. Although purchases may have resumed after summer sales, the pace is significantly lower than the spending on STRC buybacks. The research firm Ecoinometrics most accurately described this as a "slowdown": in the same week, Strategy spent about $192 million on preferred stock buybacks – almost 9 times more than on Bitcoin. "A sign of regime change, but not too aggressive a bid. If the largest corporate buyer slows down, who will pick up the slack?"

Overall demand for Bitcoin shifted from deep negative at the end of September to neutral in mid-October. If spot BTC ETFs and Strategy increase their bids, the asset may hold $80K and aim again for $87K. However, whether demand will turn positive depends on how the market digests the inflation data (CPI) on Wednesday and reassesses the Fed's decision at the end of October. Saylor plans to issue more preferred stock and so-called digital credit (including STRC) in the bull market. In his opinion, Bitcoin may exceed $100K again. Whether funds will go to new BTC purchases is still unclear.