Michael Saylor, executive chairman of Strategy, stated on October 13 that Bitcoin has entered the early stages of a new bull market after finding a bottom slightly below $60,000. Speaking in a Bloomberg Television interview, he projected that the cryptocurrency would reclaim levels above $100,000, though he offered no specific timeline for that recovery.

Bitcoin was trading near $83,000 to $83,900 at the time of the remarks, roughly 34% below its October 2025 peak of $126,251. The asset had spent several months consolidating around the $80,000 range following a sharp decline that included significant liquidations earlier in the cycle.

Market Bottom and Growth Outlook

Saylor described the recent low as the trough of the correction. “We hit the bottom around slightly below $60,000,” he said, adding that Bitcoin “will march forward from here.” He characterized the current phase as the beginning of a bull market rather than a temporary bounce.

Looking further ahead, Saylor said Strategy’s internal long-term forecast calls for Bitcoin to compound at 20% to 30% annually over the next two decades. He stressed that he is not focused on short-term price moves and views the asset through a multi-year lens.

He attributed earlier weakness to restrictive trade, foreign and monetary policy. Those headwinds, he argued, are now reversing as four supportive forces gain traction: a more favorable regulatory environment, accelerating bank adoption, the expansion of tokenized securities, and stronger digital credit networks.

AI, Scarcity and Institutional Demand

Saylor linked part of Bitcoin’s longer-term appeal to the rise of artificial intelligence. He suggested that heavy investment in AI could pressure the value of equities tied closely to human labor and talent. In response, investors would increasingly seek assets that machines cannot produce in greater quantities, including real estate, gold and Bitcoin.

He called Bitcoin “the king of commodities” and “raw financial energy,” arguing that the asset can serve different roles depending on investor preference—whether as digital credit products or equity-like exposure. Strategy, he said, converts that energy into structured digital credit offerings.

On political risk, Saylor said the outcome of the 2028 U.S. election would matter less than the quality of crypto products themselves. As long as the industry delivers services people value, he contended, demand would persist.

Strategy’s Bitcoin Holdings and Financing Strategy

Strategy continues to treat Bitcoin accumulation as a core activity. The company disclosed the purchase of an additional 250 BTC for approximately $21.5 million between October 5 and 11, lifting total holdings to 848,250 BTC. Saylor said the firm has likely acquired more Bitcoin than any other company this year and expects holdings to rise further during the bull market through the issuance of additional credit-type securities.

He addressed recent Bitcoin sales by framing Strategy as a structured finance company rather than a pure treasury vehicle. The firm moves among equity, cash, credit and Bitcoin as market conditions warrant, he explained. An initial sale of 32 BTC drew strong criticism, yet later sales of thousands of coins did not prevent the broader market from advancing. Going forward, he indicated that net accumulation remains the priority.

Since Strategy’s first Bitcoin purchase in August 2020, Saylor noted that Bitcoin has returned about 38% annually while the company’s stock has delivered roughly 52% to 53% annualized returns. He also pointed to Bitcoin’s outperformance relative to gold over that period, with gold itself outperforming the S&P 500.

Strategy holds more than $70 billion of Bitcoin and can raise U.S. dollars by using the asset or related derivatives. If the firm issues digital credit at a cost below Bitcoin’s expected return, Saylor said the spread can generate net income.

MSCI Index Decision Looms

Separate from the price outlook, Strategy faces a near-term corporate test. MSCI is reviewing eligibility rules for its global equity indexes that could exclude companies whose primary activity is accumulating digital assets rather than operating traditional businesses. A decision is expected by October 16.

JPMorgan has estimated that exclusion could place approximately $2.8 billion of investment flows at risk. Saylor called the proposed approach disappointing and a potentially harmful precedent, urging the index provider to reconsider. Strategy continues to argue that it qualifies as an operating company through its structured finance and digital credit activities.

Bitcoin briefly traded below its 200-week moving average during the recent correction before recovering to a roughly 25% premium, a technical development Saylor cited as consistent with the start of a new upward cycle. Prediction markets at the time assigned roughly 27% odds to a return above $100,000 in the nearer term, underscoring the gap between Saylor’s multi-year confidence and shorter-horizon market pricing.