Michael Saylor predicts Bitcoin will soar to $100k amid Trump's pro-crypto administration

MicroStrategy CEO Michael Saylor is expecting Bitcoin to hit $100,000 before the end of the year, stating that the 2024 U.S election outcome was ‘the biggest thing that’s happened in the past four years for Bitcoin.’

In an interview with CNBC on Nov. 14, the MicroStrategy CEO stated he is already planning a “New Year’s Eve” party at his house to celebrate Bitcoin (BTC) hitting an all-time-high of $100,000. When asked whether he sees any threats that could pull Bitcoin down to $30,000, Saylor expressed certainty that BTC will not go down below $60,000.

“I think it’s going to go up from here. I’m planning the $100,000 party and I’m thinking it’s probably going to be New Year’s Eve at my house. So I would be surprised if we don’t go through $100,000 in November or December,” said Saylor.

Most recently, Bitcoin reached a new all-time high of over $93,400 shortly after the U.S. CPI report was released on Nov. 13. According to data from crypto.news, BTC is currently trading hands at $89,083 after going down by 1,7% in the past 24 hours of trading.

Bitcoin has gone up by 32.64% in the past 30 days, November 15, 2024 | Source: crypto.newsSaylor attributed Bitcoin’s ongoing bull run to President-elect Trump’s win and the Republican party’s dominance over the House of Representatives and Congress, stating that “the red wave is probably the biggest thing that’s happened in the past four years for Bitcoin.”

Shortly after Donald Trump was confirmed as the President Elect of the United States, Bitcoin reached an all-time high of $75,000. As Bitcoin is often an indicator for all other altcoins in the industry, other cryptocurrencies like Ethereum(ETH), Solana(SOL) as well as meme coins such as cat in a dogs world(MEW) and Peanut(PNUT) have risen along with it.

“I think this is incredibly bullish for digital assets. It’s very good for the crypto industry. We’re gonna see a lot more pro Bitcoin policies. We’re gonna see a digital assets framework. We’re gonna see an end to the war on crypto,” said Saylor.

At the time of writing, Stand With Crypto recorded 272 pro-crypto candidates have been elected into the House of Representatives, with a majority of them being Republicans.

On Nov. 11, Michael Saylor announced that MicroStrategy has invested an additional $2.03 billion worth of BTC, bringing their total Bitcoin holdings to 279,420 tokens. MicroStrategy currently holds the largest Bitcoin Reserve owned by a company.