Michael Saylor says Bitcoin's slump is over and predicts a return above $100,000

Michael Saylor has declared the bear market finished. The co-founder and executive chairman of Strategy Inc. told Bloomberg on October 13, 2026, that Bitcoin has moved out of its decline and into a new bull phase, and he expects the price to climb back above $100,000.Saylor made his remarks during DC Fintech Week. He pointed to two forces driving his outlook: favorable regulatory conditions in the US and growing adoption of Bitcoin by banks.Bitcoin bottomed just below $60,000 before recovering into the $80,000s. Saylor treats that low as the cycle bottom, the point where selling exhausted itself and the rebound began.Strategy Inc. is the largest institutional holder of Bitcoin. As of October 11, 2026, the company held 848,250 BTC, which works out to approximately 4% of Bitcoin's total supply.The company's most recent purchase added 250 BTC for about $21 million. Strategy's average acquisition cost sits at approximately $75,000 to $76,000 per Bitcoin.When Bitcoin slipped just below $60,000, it traded well beneath Strategy's average cost. With prices now back in the $80,000s, the stack sits above its cost basis again.Strategy frames its holdings as "digital capital," an asset base it can borrow against and build financial products around, and has been actively managing its preferred stock alongside its Bitcoin purchases.Geoffrey Kendrick of Standard Chartered has set a year-end Bitcoin target around or above $100,000, even with the market's recent volatility.Prediction markets put the odds of Bitcoin reclaiming $100,000 by the end of 2026 at about 33%.With Strategy's average purchase price at approximately $75,000 to $76,000, a slide back toward the recent low just below $60,000 would put its position underwater again, testing the "digital capital" model and the preferred stock structure built around it.Watch whether Bitcoin holds above Strategy's cost basis, whether bank adoption keeps expanding, and whether those prediction market odds drift up from about 33%.