Michael Saylor Sees Bitcoin Reaching $1 Million by 2029 Amid Accelerating Institutional Demand

Bitcoin could climb to the seven-figure mark before the end of the decade, according to Michael Saylor, founder and executive chairman of Strategy, the company formerly known as MicroStrategy. Saylor projects that the world’s largest cryptocurrency will reach $150,000 by the end of 2025 and continue rising to $1 million by late 2029. Based on Bitcoin’s current level, the forecast implies a gain of roughly 1,049%.

The executive’s outlook comes at a moment when Bitcoin is trading more than 30% below its record high from October. Despite the pullback, Saylor maintains that a confluence of factors—chiefly, accelerating institutional adoption—will support a sustained price advance over the next four years.

Key Drivers Behind the Projection

Saylor’s thesis rests on several milestones that have unfolded in rapid succession:

• 2023: Recognition as a Distinct Asset Class. Large financial institutions began classifying Bitcoin as a stand-alone asset with its own risk-return profile. The shift marked the first substantive wave of corporate treasuries and asset managers adding Bitcoin to balance sheets and portfolios.
• 2024: Introduction of Spot Bitcoin ETFs. The launch of exchange-traded funds holding physical Bitcoin provided traditional investors with a regulated, easily accessible vehicle for exposure to the cryptocurrency market.
• 2025: Rollout of Pro-Bitcoin U.S. Policies. Saylor points to policy initiatives under the current White House administration that aim to foster digital-asset innovation and broaden participation in the Bitcoin ecosystem.

With these developments in place, Strategy’s chairman expects a continued surge in institutional demand. He argues that Wall Street is now designing financial products intended to mitigate Bitcoin’s price volatility, a long-standing obstacle for risk-averse investors.

Wall Street’s Expanding Product Suite

Banks and other financial firms are reportedly exploring new offerings such as credit lines collateralized by Bitcoin. Saylor contends that these instruments will open additional channels for capital to flow into the cryptocurrency, reinforcing its liquidity and perceived stability. Moreover, derivative products designed to hedge price swings could make Bitcoin allocations more palatable to pension funds and insurance companies.

Industry observers note that the evolution mirrors earlier stages in the gold market, where futures, options and exchange-traded products contributed to broad adoption as a store of value. The comparison aligns with definitions presented by the World Gold Council, which identify gold’s role as a hedge during macroeconomic stress.

“Digital Gold” Narrative Gains Traction

Bitcoin’s reputation as “digital gold” underpins much of Saylor’s long-term optimism. The asset has occasionally behaved like a safe-haven, moving higher alongside gold during episodes of heightened geopolitical tension or expectations of broader trade barriers. Earlier this year, concerns over rising global tariffs prompted some traders to shift capital into both assets simultaneously.

According to Saylor, if investors continue to perceive Bitcoin as a modern alternative to the precious metal, the cryptocurrency’s finite supply could become an even more compelling attribute. Bitcoin’s maximum issuance of 21 million coins stands in contrast to the incremental expansion of the global gold supply through mining.

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Current Market Context

Bitcoin’s price volatility remains pronounced. After reaching an all-time high in October, the asset has retreated by more than a third. Nonetheless, Saylor’s firm has maintained a sizeable position: Strategy is recognized as the largest publicly traded corporate holder of Bitcoin. The company began accumulating the cryptocurrency in 2020 as part of a treasury diversification strategy and has continued adding to its holdings periodically.

Market analysts generally view institutional participation as a double-edged sword. While increased involvement from banks and asset managers can deepen liquidity, it may also subject Bitcoin to broader market corrections driven by macroeconomic events. For Saylor’s $1 million outlook to materialize, capital inflows would need to outweigh such risks consistently through 2029.

Path Toward 2029

Saylor’s timeline breaks down into two distinct phases. The first phase—through the end of 2025—targets a move to $150,000, driven largely by expanded ETF inflows and policy support. The second phase, covering 2026 to 2029, assumes sustained momentum from new credit markets built around Bitcoin collateral and increasing use of volatility-hedging instruments.

Whether the cryptocurrency can adhere to that trajectory will likely depend on regulatory clarity, macroeconomic conditions and the pace at which traditional finance integrates Bitcoin into standard investment frameworks. For now, Saylor remains one of the asset’s most vocal advocates, reiterating his conviction that institutional demand will fundamentally reshape the market’s supply-and-demand dynamics.

Crédito da imagem: Getty Images