MicroStrategy founder and Bitcoin bull Michael Saylor ruled out the possibility of Bitcoin retreating to $60,000.
Saylor said in an interview with CNBC: "I don't think Bitcoin will retreat to $60,000, let alone $30,000, it will rise from the current price level."
Failure to break $100,000 would be "surprising"
Recently, Saylor also said: "I'm planning a Bitcoin $100,000 party." "I think it might be on the eve of my New Year's party at my house, so if Bitcoin doesn't exceed $100,000 by November or December, I'll be surprised."
In line with Saylor's view, Material Indicators co-founder Keith Alan said that Bitcoin could reach $100,000 by November 28 or before Thanksgiving.
However, CryptoQuant CEO Ki Young Ju warned on November 9 that Bitcoin could fall below $59,000 by the end of the year, citing the overheating of the futures market as one of the main reasons for his year-end crash forecast.
Some traders say that although volatility may persist, they believe Bitcoin will continue to rise.
Anonymous crypto trader Ash crypto said in a post on November 14 that "high volatility is expected to lead to more liquidations, but overall the price trend will break new highs."
Financial analyst Rajat Soni also said on November 14 that he doesn't "care about the price" when buying Bitcoin because "each purchase increases purchasing power."
Saylor also commented on the speculation that US SEC Chairman Gary Gensler will resign after Trump's term, saying that whoever takes over the position will play a "critical role" in the cryptocurrency industry.
"I think this is incredibly bullish for digital assets, very beneficial for the crypto industry, we will see more pro-Bitcoin policies, we will see a digital asset framework, we will see the end of the crypto litigation war."
The Bitcoin Strategic Reserve Act is the "greatest trade of the century"
Meanwhile, at the Digital Assets and AI Infrastructure Conference on November 13, Saylor declared that the US Bitcoin Strategic Reserve Act is the "greatest trade of the 21st century." Once passed, the bill will set a goal for the US government to accumulate 1 million bitcoins in five years, about 5% of the total bitcoin supply.
"If we don't pass this bill, what we're doing is leaving the existing Bitcoin on the balance sheet, which is worth $3 trillion." If the bill is passed, "based on the current draft, it will generate $16 trillion in revenue for the US in 21 years."
"If they decide to double the Bitcoin cap, that will generate $30 trillion in revenue."
However, Galaxy Digital founder Mike Novogratz said the chances of fulfilling the promise to build a Bitcoin strategic reserve during Trump's term are "very small".
In addition, Michael Saylor also said that the idea of the US purchasing strategic assets is not new, and cited the acquisitions of Manhattan, the Louisiana Purchase, and the 19th century purchases of California and Alaska, all of which have brought the US trillions of dollars in returns.
Saylor also pointed out that there have been several other strategic purchases in US history, such as gold, oil, grains, and helium. Saylor said: "It's been done before, it's a very simple idea: find where value is going to be and buy it low and hold it. Bitcoin is the Manifest Destiny of America. I think the Trump administration understands that, I think Senator Lummis understands that. That's why the US Bitcoin reserve strategy will happen."
