Bitcoin (BTC) is experiencing a remarkable resurgence. An opportunity each time taken by Michael Saylor, the co-founder of MicroStrategy, to say what he thinks would happen for the flagship crypto in the future. His projections about bitcoin (BTC) are rarely pessimistic.
Bitcoin (BTC), still below its “real” valuation?
Michael Saylor, co-founder of MicroStrategy and an iconic figure in the crypto industry, recently shared his opinion on the future trajectory of the price of bitcoin (BTC). An opinion which comes in the context of the recent surge in the flagship crypto.
As a reminder, bitcoin (BTC) broke the resistance of $50,000 and reached the valuation of $52,200. This after taking 1.57% on its valuation 24 hours ago for a weekly increase of 16.66%.
According to Michael Saylor, this remarkable improvement is anything but sufficient. He claims that the current bitcoin price remains below $0.06 million. This thus provides a concrete point of reference for market observers.
Michael Saylor’s comments about bitcoin are based on careful analysis rather than speculative conjecture. But concretely, what meaning can they have for the crypto community?
Implications for the outlook for bitcoin (BTC)
Michael Saylor’s opinion has a dual implication for the trajectory of bitcoin. First, it states a short-term goal of $60,000. This level is just a few steps away from the flagship crypto’s previous peak of $69,000.
On the other hand, it hints at a more ambitious long-term goal. In this case a target price for bitcoin (BTC) close to $1 million. This is exactly the projection that Cathie Wood, the boss of Ark Invest, made a few months ago.
Note that under the leadership of Michael Saylor, MicroStrategy has built up a large bitcoin (BTC) portfolio. A jackpot whose value currently represents 190,000 BTC, positioning MicroStrategy as one of the largest whales in BTC.
For many analysts, the outlook for bitcoin is positive. Even if the recent decision of the Federal Reserve (Fed) to maintain interest rates has caused the crypto market to react. The latter fell somewhat by 0.3% to around $1.94 trillion.
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