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Julia Smith
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Julia Smith
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Michael Saylor is planning a New Year’s Eve party to celebrate Bitcoin. He predicts the token will reach $100,000 thanks to its recent surge in price.
Ex MicroStrategy CEO Michael Saylor Talks Bitcoin Surge
“I’m planning the $100,000 party,” Saylor told CNBC. “I’m thinking it’s probably going to be New Year’s Eve at my house, so I would be surprised if we didn’t go through $100,000 in November or December.”
The software company founder further claimed that Republican candidate Donald Trump’s election is “incredibly auspicious for Bitcoin” and noted that he does not see “any near-term threats on the horizon” for the cryptocurrency.
“I don’t think it’s going to $60,000, I don’t think it’s going to $30,000, I think it is going to go up from here,” Saylor said.
The MIT grad, who notably increased MicroStrategy’s Bitcoin holdings beginning in 2020, has been hailed for his prescience regarding the Satoshi Nakamoto-created cryptocurrency.
Most recently, the company outperformed the S&P 500 index, with its current Bitcoin holdings valued at nearly $25 billion.
Donald Trump’s Effect On Bitcoin
The token has largely seen ballooning value since Trump defeated Democratic nominee Kamala Harris in the U.S. 2024 presidential election earlier this month.
On Wednesday, Bitcoin broke its record high by surging over $93,000, though it had since descended to $89,000 as of Friday afternoon.
Trump, who recently launched his family’s crypto platform World Liberty Financial, widely praised Bitcoin and other digital currencies on the campaign trail while vowing to enact a crypto-friendly regulatory framework upon returning to the Oval Office.
“We will have regulations,” Trump stated at the Bitcoin 2024 Conference, adding, “but from now on, the rules will be written by the people who love your industry, not hate your industry.”
The one-time reality television star shared that he was “not a fan of Bitcoin and other cryptocurrencies” thanks to their value being “highly volatile and based on thin air.”
“Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….,” he said in the 2019 X post.
However, his stance has since significantly changed.
Just weeks ago, the now President-elect wished Bitcoiners a happy 16th anniversary of the token’s pseudonymous creator’s white paper in an X post on October 31.
With Bitcoin’s price expected to trend upwards, it remains to be seen just how high it may go.
