# Michael Saylor says bitcoin is at start of bull market, can reclaim $100,000

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/investing/31507
Published: 2026-10-13T20:44:08.000Z
Updated: 2026-10-13T20:44:08.000Z
Section: Investing

> Michael Saylor said bitcoin is entering a bull market as regulation, banking adoption and digital credit turn supportive, adding that the asset should move back above $100,000.

Bitcoin has moved past its correction phase and entered the early stage of a bull market, with regulation and banking adoption turning into tailwinds, according to Michael Saylor. He also argued that heavy investment in AI could strengthen demand for scarce digital capital such as bitcoin.

In an Oct. 13 Bloomberg interview, Michael Saylor, founder and chairman of Strategy, said bitcoin briefly traded below its 200-week moving average before moving back to a 25% premium, adding that the asset is at the “beginning of a bull market.”

Saylor said earlier pressure on bitcoin came from restrictive trade policy, foreign policy and monetary policy. Those headwinds are now shifting, he said, as a favorable regulatory environment, bank adoption, tokenized securities and stronger digital credit networks create more supportive conditions for the asset.

On AI, Saylor said the trade could weaken the value of some equities tied to labor and talent. He argued that investors would look for assets that machines cannot produce more of, including real estate, gold and bitcoin. He described bitcoin as “the king of commodities” and digital capital.

He cited Strategy’s own bitcoin period as evidence. Since the company first bought bitcoin in August 2020, Saylor said bitcoin has risen about 38% a year, while Strategy’s stock, MSTR, has gained about 52% to 53% a year. He said bitcoin has outperformed gold, while gold has outperformed the S&P index.

Saylor said bitcoin does not need to be viewed only as either a safe-haven asset or a growth asset. Calling it “raw financial energy,” he said investors can use it in different forms, including digital credit products or equity-like exposure, depending on risk preference.

Addressing criticism over Strategy’s bitcoin sales, Saylor said the company should be seen as a structured finance company. He said Strategy must be able to move among equity, cash, credit and bitcoin when doing so benefits shareholders. The first sale of 32 BTC drew an outsized reaction, he said, but later sales of thousands of BTC did not stop the market from rising.

Saylor maintained that Strategy is primarily an acquirer of bitcoin. He said the company has likely acquired more bitcoin than any other company in the world this year and that investors should expect its bitcoin holdings to increase over time.

On price, Saylor said bitcoin should return to six figures and move back above $100,000. He said Strategy’s long-term forecast is for bitcoin to grow 20% to 30% annually over the next 20 years, while noting he is not a short-term trader.

He said Strategy’s advantage lies in its ability to create credit backed by bitcoin. Saylor said the company holds more than $70 billion of bitcoin and can use bitcoin or related derivatives to raise U.S. dollars when needed. If Strategy issues large amounts of digital credit and bitcoin’s return exceeds its funding cost, he said, the company can generate net income from that spread.