“People Will Be Freaking Out”

Michael Saylor, chairman of Strategy, expects Bitcoin to surge massively and possibly crash, as volatility continues to drive investor reactions.

Bitcoin is trading at $101,232 today, reflecting a 1.32% drop in the last 24 hours and a 4.44% decline over the past week. While the price remains below this year’s highs, recent comments from company executives and market analysts have further emphasized Bitcoin’s volatile behavior and potential future trajectory.

Bitcoin Volatility and Structural Factors

Michael Saylor addressed Bitcoin’s volatility in a recent CNBC interview. He explained that BTC’s price swings are due to its nature as a global asset that trades 24/7, 365 days a year. According to Saylor, investors can panic-sell it on a Saturday night or buy it on a Sunday morning. He emphasized that this is a feature of the asset, not a flaw.

Saylor predicted that the market would continue to experience significant swings. He forecasted that Bitcoin could surge dramatically to $180,000 and then crash to around $140,000, potentially causing renewed panic among investors. He said this kind of volatility is simply part of how Bitcoin behaves.

To illustrate his point, Saylor drew an analogy to fire: while some people run away from it, others—like Henry Ford—harnessed it by putting it into a carriage as an engine. This innovation created an industry and gave humanity wings. Similarly, he argued, Bitcoin is powerful, transformative, and often misunderstood.

Saylor on CNBC: “Bitcoin will surge to $180K, crash to $140K, and people will be freaking out about it again.” pic.twitter.com/zBqVdIrCeU

— Bitcoin.com News (@BTCTN) June 23, 2025

Other Analyst Expectations

Saylor’s anticipated target aligns with historical halving-based price trends highlighted by analyst Klarch. He pointed to previous cycles where Bitcoin surged 280% after the 2016 halving and 550% after the 2020 halving.

Despite the current growth standing at 70% over 416 days post-halving, Klarch asserted that further appreciation is likely, projecting a potential rally to $180,000.

Treasury Operations and Debt Strategies at the Forefront

Meanwhile, during the interview, Saylor also detailed Strategy’s treasury initiatives. At the time of the interview, the firm had executed a stock sale worth $1.5 billion, backed by $500 million in Bitcoin holdings. With the raised capital, it purchased $1.5 billion in Bitcoin, resulting in an unrealized gain of nearly $1 billion.

He also stated that Strategy issued $3 billion in zero-coupon debt backed by $600 million in Bitcoin. The capital from this debt was used to acquire an additional $3 billion in Bitcoin, with the firm projecting a doubling or quadrupling of value over five years.

Saylor explained that convertible debt with high premiums, such as one issued at a 55% markup and 0% interest, is feasible due to the volatility and liquidity tied to Bitcoin-focused companies. He also mentioned how Marathon Digital implemented a similar $1 billion zero-coupon convertible bond.