Michael Saylor said that after roughly a year-long bear market, Bitcoin could enter a new bull market lasting two to three years, driven by institutional demand and banks’ participation.
Comments reported by Wu Blockchain on November 6 were based on Strategy’s third-quarter earnings call on October 30. Strategy founder Michael Saylor outlined his long-term outlook during the call, noting that Bitcoin had rebounded from its 200-week moving average.
Institutional demand is at the center of Saylor’s outlook
In his assessment, Saylor said Bitcoin’s market dominance had risen to about 67 percent, institutional demand was returning, and banks were beginning to adopt Bitcoin. He cited these factors as grounds for expecting a multiyear bull market.
He also highlighted the approximately $6.3 billion in net inflows into Bitcoin ETFs during the third quarter as a positive sign. According to Saylor, banks and institutional investment channels could play an important role in expanding demand for Bitcoin.
Claim that demand could absorb new Bitcoin supply
Saylor argued that digital credit and bank loans could generate enough demand to absorb all newly issued Bitcoin supply. In doing so, he tied his outlook not only to purchases by individual investors but also to capital that could flow through the financial system.
Monetary expansion, institutional investment, and tokenization were also among the factors he listed. He included the 2028 Bitcoin halving as another cyclical factor that would reduce new supply.
The two-to-three-year bull market scenario is based on Saylor’s view that these demand channels will have an impact. The price indicators and institutional demand assessments cited reflect the context of his remarks on October 30.
Not investment advice.