Saylor Says $BTC Likely Bottomed, Calls Quantum Risk a Non-Issue


#MichaelSaylor, executive chairman of Strategy, said $BTC most likely hit its cycle low in early February near $60,000. He made those comments at a Mizuho event, as summarized in a note by analysts Dan Dolev and Alexander Jenkins. #Bitcoin


Saylor said cycle bottoms are not driven by valuation metrics. He said they are the result of sellers running out of supply to move into the market. Trend reversals, in his view, depend more on capital structure and #liquidity conditions than on sentiment shifts.


He pointed to ETF inflows as a current source of demand that is consistently absorbing new $BTC supply. Corporate treasury allocations into Bitcoin are adding to that demand, he said. Together, those factors reduce the amount of available selling pressure in the market.


Saylor identified the formation of banking credit and digital credit markets built on $BTC as the most likely catalyst for the next price surge. He described this as a phase where Bitcoin would support active lending and credit activity rather than functioning solely as a buy-and-hold asset. #BTC


He pointed to Strategy's STRC preferred stock as an example of digital credit already in operation. That instrument carries an 11.5% annual yield, which Saylor said remains well below the company's long-term expectations for Bitcoin's appreciation. He framed the structure as an effort to expand $BTC's role from a non-yielding store of value into an active capital markets instrument.


On quantum computing, Saylor said the threat to Bitcoin is theoretical and likely decades away from becoming a practical concern. He argued it would be solvable when and if it ever materialized. His comments were made the same day Bernstein published a note giving the industry three to five years to prepare for post-quantum upgrades. #Crypto


Mizuho kept its outperform rating on Strategy and maintained a $320 price target.

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April 08, 2026 at 9:21 PM
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