Bitcoin (BTC) maximalist and Microstrategy CEO Michael Saylor recently appeared for an interview with CNBC host Morgan Brennan. Saylor and Brennan spoke about the recent BTC price spike. BTC’s latest rally took Microstrategy’s BTC ROI to over 100%. The company currently holds over $20 billion worth of BTC.
According to Saylor, there has been a significant change in how the cryptocurrency sector is viewed in the political landscape. Saylor highlights that the shift in the political landscape and support from financial institutions such as BlackRock has created a favorable environment for Bitcoin (BTC).
Saylor dismissed the possibility of BTC falling to $60,000. Instead, the BTC maximalist believes the original crypto will breach the $100,000 level before the year ends.
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Can Bitcoin Hit $100,000 Before 2025?
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Saylor is not the only one who believes BTC will breach the $100,000 level. According to a Standard Chartered report, BTC could surge to $125,000 if Donald Trump won the US Presidential election, which he did. Hitting $125,000 from current price levels will entail a rally of about 40%.
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Many believe Trump’s victory may mean lenient regulations for the crypto industry. Analysts point to his pro-business and pro-crypto policies to back their arguments for BTC’s continuing its upward momentum. Trump has been very vocal about his support for cryptocurrencies. Elon Musk, the world’s richest person and an advocate for cryptocurrencies, is also one of Trump’s most significant supporters.
According to CoinCodex analysts, BTC could breach the $100,000 level by the end of this month. The platform anticipates BTC to trade at $103,338 on Nov. 29, 2024. Hitting $103,338 from current price levels will translate to a rally of about 15.77%.
Source: CoinCodex
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There is also a possibility that investors will begin to book profits, leading to a slight correction in BTC. How the asset performs over the next few weeks is yet to be seen.
