Why Bitcoin Will Not Experience A Drop In 2024

The Bitcoin continues to make headlines. While some predict significant fluctuations, Michael Saylor, founder of MicroStrategy and a staunch advocate for Bitcoin, remains unshakably optimistic about its future. But what fuels this confidence, and why does he think that Bitcoin will not experience a drop in 2024?

Michael Saylor predicts an irresistible ascent of Bitcoin

Michael Saylor is not one to mince words. According to him, Bitcoin will not return to lower price levels such as $60,000 or even $30,000.

On the contrary, he expects that the crypto will continue to rise. “I don’t think Bitcoin will ever reach $60,000 or $30,000 again,” he stated during a recent interview with CNBC. “I think we’re going to go up from here.”

Saylor even goes so far as to plan a celebration to mark a major milestone. “I’m preparing to celebrate the $100,000 party,” he announced enthusiastically.

“I would be surprised if we don’t surpass $100,000 before the end of 2024.” For him, the $100,000 milestone is not mere speculation but an imminent step in the evolution of Bitcoin.

He attributes this confidence to the recent evolution of the political landscape. “The victory of certain political leaders has very resolutely set the future of crypto and Bitcoin in the United States,” he asserted. “I don’t really see any short-term threats.” For Saylor, the political winds are blowing in favor of Bitcoin, strengthening its position on the global stage.

The factors supporting Saylor’s optimistic vision

One of the key elements of Michael Saylor’s optimism lies in the Bitcoin Strategic Reserve bill in the United States.

This bill, if passed, would set a goal for the U.S. government to accumulate one million Bitcoins over five years, representing about 5% of the total supply.

Saylor considers this initiative to be “the biggest deal of the 21st century.” According to him, it could bring trillions of dollars to the U.S. economy. “If we adopt this bill as currently written, it will represent a benefit of $16 trillion for the United States over 21 years,” he declared.

Furthermore, Saylor views the prospect of a clearer and more favorable regulatory environment positively. “We are going to see a lot more pro-Bitcoin policies,” he predicted. “We are going to see a framework for digital assets, and we are going to see the end of the war against crypto.” He believes that this regulatory evolution will stimulate the adoption of Bitcoin and encourage institutional investors to join the dance.

Finally, the growing adoption of Bitcoin by financial institutions reinforces his confidence. With companies like MicroStrategy investing heavily in Bitcoin, institutional demand continues to rise. “Every purchase will increase in purchasing power,” said financial analyst Rajat Soni, echoing Saylor’s sentiments. This momentum could propel Bitcoin to new heights, supported by renewed investor confidence.