MicroStrategy Executive Chairman Michael Saylor has predicted Bitcoin could reach a price of $1 million, citing surging institutional demand, the cryptocurrency’s limited supply, and positive regulatory developments as key catalysts.
Saylor highlighted Bitcoin’s constrained daily supply of approximately 450 BTC, arguing that this scarcity is being met with unprecedented institutional buying pressure. Public companies, including MicroStrategy which holds 582,000 BTC, are significantly reducing the available supply, tightening the market and amplifying upward price pressure.
Favorable regulatory shifts, including pro-crypto leadership appointments at the SEC and CFTC, are also boosting institutional confidence and accelerating adoption, according to Saylor.
The rapid accumulation of Bitcoin by spot ETFs, such as BlackRock’s IBIT, is further constraining supply and driving price appreciation. These funds are absorbing large amounts of BTC directly from the market.
Supporting the bullish sentiment, data indicates that 97.59% of Bitcoin holders are currently in profit, reflecting strong market confidence and suggesting limited near-term selling pressure.