In a recent interview with CNBC, MicroStrategy co-founder Michael Saylor predicted that the price of Bitcoin could reach $100,000 by the end of this year.
Saylor is convinced that Bitcoin is not going to revisit the $30,000 level. Instead, the leading cryptocurrency is going to surge higher in the near future.
"I'm planning the $100,000 party, and I'm thinking that it's probably going to be New Year's Eve at my house. So, I will be surprised if we don't go through $100,000 in November or December" he said.
The leading cryptocurrency dipped below the $87,000 level earlier this Friday after reaching a lifetime peak of $93,477 on Wednesday, according to CoinGecko data.
Polymarket bettors currently see only a 36% chance of Bitcoin hitting $100,000 this November.
Alex DovbnyaAccording to Bloomberg, the ongoing Bitcoin rally has started showing signs of cooling based on recent data fro the derivatives market. However, Saylor will likely be unfazed by short-term volatility since he believes in the cryptocurrency's long-term potential.
In September, Saylor predicted that the price of Bitcoin could end up reaching $13,000 in roughly two decades from now.
A US Bitcoin reserve is a great idea
During the interview, Saylor also predicted that the US will eventually establish a Bitcoin reserve.
"The next great frontier is cyberspace, and the obvious thing to do is own cyberspace...I think it's a great idea. I think it will happen," he said.
As reported by U.Today, Mike Novogratz predicted that a US Bitcoin reserve was unlikely. However, if such an ambitious idea gets implemented, Novogratz expects Bitcoin to skyrocket all the way to $500,000 since other countries would likely have to follow suit.
Tomiwabold Olajide
Dan Burgin
Vladislav Sopov