Michael Saylor Declares End of Bitcoin Bear Market, Targets Price Move Above $100,000

Bitcoin (BITSTAMP:BTCUSD) is transitioning back into a bull market and is positioned to rise above $100,000, stated Strategy Inc Class A (NASDAQ:MSTR) Executive Chairman Michael Saylor. The digital asset has traded near $80,000 since mid-August and currently sits around $83,000, recovering from a bottom just below $60,000. The token remains roughly 30% below its record high of $126,251 set in October of last year, which was followed by a single-day liquidation of $19 billion in positions across the broader crypto market.

The shift in market conditions coincides with plans by Strategy Inc Class A to expand its Bitcoin purchases and issue additional securities. Over the recent downturn, the company established a capital management framework that involved selling stock and Bitcoin to raise cash and repurchase preferred shares, aiming to manage liquidity and leverage. Saylor noted that the firm now expects to increase purchases and issue new securities to support its portfolio, forecasting long-term annual growth for Bitcoin between 20% and 30% over the coming years.

Investors are also monitoring a pending index decision from index provider Morgan Stanley Capital International, also known as MSCI. MSCI is evaluating whether to exclude asset-accumulating firms from its global equity benchmarks, a move that could force the removal of Strategy Inc Class A and impact up to $2.8 billion in investments, based on JPMorgan estimates. Saylor called the potential exclusion biased against digital assets, emphasizing that Strategy Inc Class A operates as an active business rather than a holding company. MSCI is set to announce its determination on Friday.