Michael Saylor "Bitcoin (BTC) expected to reach $150,000 by year-end"

JH Kim

Summary

Michael Saylor said he expects Bitcoin (BTC) to reach $150,000 by year-end.
He stated that Bitcoin has become an institutional asset, and that institutional investor demand and a supply shortage after ETF approval are major factors.
Market analysts say that investor sentiment could be stimulated by the recent rise in Bitcoin prices, but they also caution about the possibility of short-term corrections.

Known as a Bitcoin (BTC) bull, Michael Saylor, founder of Strategy, forecasted that Bitcoin (BTC) will reach $150,000 by year-end.

On the 29th (local time), Saylor said in a CNBC interview, "Bitcoin has already established itself as an institutional asset, and demand from institutional investors is continuously expanding," adding, "If this trend continues, there is a high possibility that the Bitcoin price will reach $150,000 by year-end."

He also said, "In the virtual asset (cryptocurrency) market, Bitcoin is solidifying its status as digital gold," and added, "Especially after ETF approval, institutional funds have begun flowing in in earnest, causing a supply shortage."

Market analysts evaluate that Saylor's remarks could further stimulate investor sentiment in line with the recent rise in Bitcoin prices. However, caution about the possibility of short-term corrections remains.