Saylor Says Bitcoin Bull Market Has Started, $100K Coming

What happened

Michael Saylor, executive chairman of Strategy, declared on October 13 that Bitcoin has entered a new bull market and will eventually recover above $100,000. Speaking to Bloomberg, Saylor said the cryptocurrency bottomed slightly below $60,000 and has since recovered into the $80,000 range, where it was trading near $83,000 at the time of his comments.

Saylor attributed his outlook to improving economic conditions, institutional adoption of Bitcoin, and growing demand for Bitcoin-backed financial products. He cited changing monetary policy, regulatory developments, and increasing institutional participation as factors supporting his prediction, though he did not specify a timeline for reaching the $100,000 target.

Bitcoin reached an October 2025 peak of $126,251 but then declined sharply. The market experienced approximately $19 billion in liquidations shortly after that record, which added pressure to leveraged positions. Since mid-August, Bitcoin has traded around $80,000.

Strategy announced a recent Bitcoin purchase of 250 BTC for approximately $21.5 million during October 5, 11, bringing its total holdings to 848,250 BTC. The company also repurchased $192.4 million of STRC preferred shares during the same period.

Why it matters

Saylor's bullish stance reflects growing confidence among major Bitcoin holders about market recovery. He expects Bitcoin to deliver annualized growth of 20% to 30% over the coming years and said Strategy likely acquired more Bitcoin than any other company in 2026. Strategy plans to issue additional securities to finance further purchases as the market recovers.

Strategy's track record matters to this forecast. Since its first Bitcoin purchase in August 2020, Bitcoin has climbed about 38% a year, while Strategy's stock has returned about 52% to 53% annually. Saylor positioned Bitcoin as an asset that artificial intelligence cannot produce, calling it the king of commodities.

However, Strategy faces an immediate test unrelated to Bitcoin's price. MSCI will announce by October 16 whether it will adopt new eligibility rules that could exclude companies primarily engaged in accumulating assets rather than operating businesses. JPMorgan estimated that a potential exclusion could put approximately $2.8 billion in investment flows at risk.

What is still unclear

• Prediction markets were assigning only 27% odds to Bitcoin reaching $100,000 as of October 14, which contrasts with Saylor's confidence in the outcome.

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