Michael Saylor has doubled down on his long-standing Bitcoin conviction, declaring that the asset faces only two ultimate outcomes.
“If Bitcoin is not going to zero, it’s going to a million,” Saylor wrote on X today, as the market navigates bearish pressure.
His statement comes as Bitcoin trades at $67,100. Earlier this month, the asset briefly touched $60,000. It now sits 47% below its all-time high of $126,200, recorded during the previous cycle peak. The broader market has also suffered, with many altcoins down as much as 90% from their highs.
While Saylor remains confident, some analysts are calling for a deeper downside. Bloomberg commodity strategist Mike McGlone has floated the possibility of Bitcoin revisiting $10,000.
Saylor, however, has consistently called downturns temporary phases within a larger uptrend. In recent interviews, he described the current slump as milder than previous bear markets, arguing that institutional adoption and political support have significantly strengthened Bitcoin’s foundation compared to past cycles.
He previously noted that banks and major financial institutions now participate more actively in Bitcoin markets than they did four years ago. He also pointed to the rise of spot Bitcoin ETFs and expanding corporate treasury allocations as evidence that the asset class is maturing.
Saylor’s conviction is reflected in the balance sheet of Strategy, the firm he chairs. The company currently holds 717,131 BTC, acquired at an average price of $76,027 per coin.
With Bitcoin trading below that level, the position is underwater on paper. Still, Saylor has insisted that even a severe crash would not derail the company’s plans.
Last week, he stated that Strategy could withstand a drop to $8,000 per Bitcoin and still manage its obligations. The firm continues to signal that it has no intention of selling and plans to keep accumulating.
Saylor has previously outlined bold long-term price targets. In late 2025, he suggested Bitcoin could reach $1 million per coin if Strategy were to acquire 5% of the total supply. He went even further, arguing that prices could climb to $10 million if ownership concentration rises toward 7%.
His thesis rests on a supply-demand imbalance. With a fixed cap of 21 million coins and increasing institutional demand, Saylor believes the asset will become exponentially more expensive over time. In his words, each cycle requires “more fiat for less Bitcoin.”
Ultimately, Saylor’s latest remark reinforces a binary perspective: either Bitcoin ultimately fails, or it evolves into a multi-million-dollar asset.
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