Strategy executive chairman Michael Saylor has declared Bitcoin's bear market over and predicted a return above $100,000, arguing that the cryptocurrency has already rebounded from its cycle bottom and is entering a bullish phase. His October 13 comments put a six-figure price back at the center of his investment case.
The call comes with Bitcoin still trading in the $80,000s and Strategy holding 848,250 coins after its latest purchase. Saylor's declaration is his assessment of the market, while the $100,000 level remains a forecast. The company's recent financing decisions show how much work accompanies that bullish message.
Saylor puts six figures back in view
Speaking in an interview with Bloomberg Television, Saylor described the rebound in emphatic terms:
It should definitely move back into the six figures beyond $100,000. We hit the bottom around slightly below $60,000, I think we bounced off it. Now, we are moving up into the 80s. I think we will march forward from here.
He also projected annual Bitcoin growth of 20%–30% over the next few years. That expectation would support further expansion of Strategy's treasury and the securities it sells to investors seeking exposure to it.
Bitcoin stood at $83,351.61 in Apex's October 13 market-data snapshot. A move to exactly $100,000 would require a 19.97% gain from that observation, with a larger increase needed to trade above it.
The recent path is less decisive than Saylor's declaration. Completed daily prices from Coinbase show an October 1 close of $84,848.73 and an October 12 close of $81,742.50. The October 13 snapshot was still 1.76% below the first of those readings, despite recovering from the previous close.
More Bitcoin buying, alongside larger buybacks
Saylor expects Strategy to become more active as conditions improve:
We are moving into a bull market, so I would expect we are probably acquiring bitcoin, and we will be issuing credit into the bull market.
Strategy's October 12 disclosure records a 250-BTC purchase for $21.5 million during October 5–11, at an average $86,194 per coin including fees and expenses. The transaction raised total holdings to 848,250 BTC, with an aggregate average purchase price of $75,444.
The funding came from $21 million in net proceeds from selling MSTR common shares and $500,000 of cash. During the same period, Strategy spent $192.4 million repurchasing its STRC preferred stock, substantially more than it deployed into new Bitcoin.
That balance puts the forecast in context. Management is buying the asset while also managing the securities used to finance its treasury. The company reported a $4.88 billion dollar reserve intended to support preferred dividends and debt interest, plus $640.5 million of separately designated cash, as of October 11.
Fund flows still challenge the recovery
As previously reported by Apex, U.S. Bitcoin ETFs lost $681.1 million in the week ending October 9. Those withdrawals show that institutional demand through funds had weakened even as Saylor argued for a new bullish phase.
The contrast matters for his thesis: an optimistic forecast can coexist with investors withdrawing capital. Strategy's own purchases add demand, but do not establish that the wider market has turned. A return above $100,000 would vindicate his price forecast; until then, the recovery still has ground to cover.