- Bitcoin has retraced most of its recent gains and is now ~$2,000 above the level it was at when Trump announced a strategic crypto reserve.
- Michael Saylor remains highly bullish on Bitcoin, predicting its market cap could reach $200 trillion, with a potential price of up to $49 million per BTC.
Bitcoin has fallen below the 78.6% retracement of Sunday’s surge and is now less than 2K above the level it was at when Trump tweeted about a strategic reserve including Bitcoin and a few altcoins.
Some of the smaller cryptocurrencies mentioned by Trump—Cardano, Solana, and Ripple—are holding up slightly better but have also dropped.
Strategy Executive Chairman Michael Saylor, whose company holds nearly 500,000 BTC, strongly endorsed Trump’s proposed strategic crypto reserve in a CNBC interview. Saylor also predicted Bitcoin’s market cap could reach $20 trillion and eventually $200 trillion, projecting a price of $13 million per BTC by 2045. In a bullish scenario, he sees Bitcoin hitting $49 million, while a bearish case could still put it at $3 million.
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