Michael Saylor Bitcoin Bottom

Michael Saylor, executive chairman of MicroStrategy, believes Bitcoin has likely bottomed at $60,000 in early February. Saylor attributes the bottom to seller exhaustion rather than valuations, and expects trend reversals to be driven by capital structure and liquidity.

Saylor sees limited selling pressure due to growing demand from ETF inflows, which are absorbing daily supply, and companies shifting treasury assets into Bitcoin. He believes the next bull market will be driven by the formation of banking credit and digital credit on top of Bitcoin.

The MicroStrategy chairman also downplayed the risks of quantum computing, calling them 'theoretical' and 'likely decades away.' Mizuho has retained its outperform rating on MicroStrategy and $320 price target, suggesting about 150% upside from the current $127. Saylor's comments come as Bitcoin continues to experience volatility, with investors watching for signs of a potential bull run.