Photo credit: Michael Saylor X

MicroStrategy founder and Bitcoin advocate Michael Saylor has dismissed the possibility of Bitcoin falling to $60,000, a critical price level for most of 2024.

Speaking to CNBC on Nov. 14, Saylor stated, “I don’t think it is going to $60,000, it is not going to $30,000, I think it is going to go up from here.”

At the time, Bitcoin was trading around $87,790 according to CoinMarketCap.

Saylor attributed the bullish outlook to Donald Trump’s presidential win, which he believes has decisively settled the future of crypto and Bitcoin in the United States.

“I don’t really see any threats on the near-term horizon,” he added.

Saylor is so confident in Bitcoin's upward trajectory that he is planning a $100,000 celebration, potentially on New Year’s Eve at his house, expecting Bitcoin to surpass $100,000 by November or December.

Keith Alan, co-founder of trading resource Material Indicators, echoed Saylor’s optimism, suggesting Bitcoin could reach $100,000 as soon as November 28.

However, not all experts share this view. CryptoQuant CEO Ki Young Ju warned on Nov. 9 that Bitcoin might end the year below $59,000, citing an overheated futures market as a primary reason for his prediction.

Despite the potential for volatility, several traders remain confident in Bitcoin's upward trend. Pseudonymous crypto trader Ash Crypto told their 1.2 million followers on X that while high volatility and liquidations are expected, the overall price trend will be upward, making new highs.

Financial analyst Rajat Soni also expressed a long-term bullish view, stating that he doesn’t “care about the price” when buying Bitcoin, as he believes “every buy will appreciate in purchasing power.”

Saylor also commented on speculation that Securities and Exchange Commission (SEC) chair Gary Gensler might resign as Trump takes office next year.

He emphasized that whoever takes the role will have a pivotal influence on the crypto industry.

“I think this is incredibly bullish for digital assets, it is very good for the crypto industry, we are going to see a lot more pro-Bitcoin policies, we’re going to see a digital assets framework, we’re going to see an end to the war on crypto,” he claimed.

At the Cantor Crypto, Digital Assets & AI Infrastructure Conference on Nov. 13, Saylor declared that the US Strategic Bitcoin Reserve Bill, if passed, would be the “greatest deal of the 21st Century.”

The bill aims to accumulate 1 million Bitcoin, or roughly 5% of Bitcoin’s total supply, over five years. Saylor argued that holding the existing Bitcoin on the balance sheet would be worth $3 trillion to the people, and if the bill passes as drafted, it could provide a $16 trillion benefit to the United States over 21 years.

Doubling the reserve could potentially yield a $30 trillion benefit.

However, Galaxy Digital founder Mike Novogratz expressed skepticism, suggesting there is a “low probability” that President-Elect Trump will fulfill his promise to establish a Bitcoin strategic reserve during his term.

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