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Michael Saylor, co-founder and executive chairman of Strategy Inc., announced on October 13, 2026, that he believes Bitcoin has exited its bear market and is entering a new bull phase. Speaking at DC Fintech Week, Saylor pointed to favorable regulatory conditions in the United States and increasing adoption of Bitcoin by banks as key factors driving his optimistic outlook. He expects the cryptocurrency to surpass the $100,000 mark once again.
Bitcoin recently rebounded from a low of just below $60,000, climbing back into the $80,000s. Saylor considers this low to be the cycle bottom, marking the end of significant selling pressure. Strategy Inc., which is the largest institutional holder of Bitcoin, currently owns 848,250 BTC, representing approximately 4% of the total Bitcoin supply. The company made a recent purchase of 250 BTC for around $21 million, with an average acquisition cost of $75,000 to $76,000 per Bitcoin.
Market analysts share Saylor's bullish sentiment, with Geoffrey Kendrick from Standard Chartered projecting a year-end Bitcoin target around or above $100,000. Prediction markets currently estimate a 33% chance of Bitcoin reaching this price by the end of 2026. Investors are closely monitoring whether Bitcoin can maintain its value above Strategy's cost basis and how the ongoing bank adoption will influence market dynamics.
Source: KLEA News