Bitcoin Evangelist Michael Saylor Predicts BTC Will Hit $100K By New Year's Eve

Vigorous Bitcoin evangelist and MicroStrategy Executive Chairman Michael Saylor is more bullish than ever about the price of the premier cryptocurrency now that President-elect Donald Trump is set to take office in January.

Bitcoin (CRYPTO: BTC) evangelist and MicroStrategy (NASDAQ:MSTR) Executive Chairman Michael Saylor is bullish on the premier cryptocurrency now that President-elect Donald Trump is set to take office in January.

What Happened: Saylor plans to have a New Year’s Eve party when BTC reaches the long-awaited $100,000 mark, which he expects by the end of this year.

“I’m planning the $100K party,” Saylor said. “I’m thinking it’s probably going to be New Year’s Eve at my house, so I would be surprised if we don’t go through $100K in November or December.”

Saylor told CNBC on Thursday that the Republican wave in the midterm elections and support from Wall Street are the key factors in his bullish crypto outlook.

“The red wave is probably the biggest thing that’s happened in the past four years for Bitcoin,” Sairlor said.

“But we’re also getting a lot of very constructive support from Wall Street. BlackRock (NYSE:BLK) has been a very, very strong voice articulating the Bitcoin value proposition.”

The price of Bitcoin soared following Trump’s election victory in 2016. The win heralds a potentially softer approach from regulators toward the crypto industry.

Trump promised to make the U.S. the crypto capital of the planet and to fire current SEC chair Gary Gensler on day one of office. Soon, we’ll see whether and how he’ll deliver on those promises.

“I think this is incredibly bullish for digital assets. It’s very good for the crypto industry. We’re going to see a lot more pro-Bitcoin policies. We’re going to see a digital assets framework. We’re going to see an end to the war on crypto. We’re going to see a lot of pro-business policies. I think that, clearly, the SEC will be a big part of it,” Saylor said.

Saylor said he would be surprised if Bitcoin doesn’t reach $100,000 by December. As of press time, one Bitcoin was priced at $90,836 after hitting around $93,500 on Wednesday, according to data from CoinGecko.

“I’m planning the $100K party,” Saylor opined. “I’m thinking it’s probably going to be New Year’s Eve at my house, so I would be surprised if we don’t go through $100K in November or December.”

Saylor said he rules out the possibility of the benchmark crypto retracing to $60,000 or even as low as $30,000.

“I don’t think it’s going to $60,000, it’s not going to $30,000. I think it is going to go up from here.”

Saylor said Trump winning the presidency has “very decidedly” determined the future of crypto in the U.S., adding, “I don’t really see any threats on the near-term horizon.”