Saylor: Strategy Buying 5–7% of BTC Could Push Bitcoin to $1M–$10M
Michael Saylor, executive chairman of Strategy (formerly MicroStrategy), reiterated on the Breakdown podcast that continued large-scale corporate accumulation of Bitcoin could sharply tighten available supply and drive extreme price appreciation. Strategy has bought 671,268 BTC for about $50.3 billion at an average cost of $74,972, representing roughly 3.2% of total supply. Saylor said the same capital would buy far less BTC today, and he expects Strategy to continue buying until it holds about 5%–7.5% of total supply before significantly slowing purchases. He projected that reaching 5% could push Bitcoin toward $1,000,000 per coin, and 7% could imply a $10,000,000 price — scenarios framed as opinion rather than investment advice. Saylor also argued that institutional flows (for example, large inflows into BlackRock’s IBIT plus Strategy’s buying) concentrate coins among long-term holders and reduce circulating float, amplifying supply shocks. For traders: the report highlights elevated supply-side concentration risk, potential for significant upside if demand continues, and increased volatility as large corporate buyers accumulate; this is market information, not trading advice.
Bullish
Saylor’s statements and Strategy’s ongoing accumulation point to growing supply-side pressure: a large share of Bitcoin is being concentrated in long-term corporate holdings, which reduces the available float. If institutional demand continues or increases (e.g., ETFs, large corporate treasuries), the effective circulating supply for traders and speculators shrinks. That dynamic is bullish for BTC price over the medium to long term because constrained supply with steady or rising demand tends to lift prices. In the short term, however, aggressive buying by a single corporate buyer can increase volatility — sharp moves as markets reprice scarcity and as traders front-run or hedge positions. The extreme price targets Saylor cited ($1M at 5%, $10M at 7%) are theoretical and assume persistent demand and negligible selling; they should be treated as scenario analysis rather than forecasts. Overall impact on BTC price is expected to be bullish, with elevated volatility while accumulation continues.