Michael Saylor Says Bitcoin Bottomed Near $60,000, Calls Quantum Threat Decades Away

Strategy (MSTR) executive chairman Michael Saylor stated at a Mizuho event on April 8, 2026 that bitcoin likely bottomed near $60,000 in early February when forced sellers were flushed out, and that the formation of banking credit and digital credit markets built on bitcoin will be the catalyst for the next bull market.

Saylor also dismissed quantum computing risks as “theoretical” and “decades away,” while rejecting recent claims that Adam Back is Satoshi Nakamoto, demanding cryptographic proof via a private key signature.

Bitcoin Bottom Driven by Seller Exhaustion, Not Valuation

Saylor reiterated his long‑held view that bottoms are determined by seller exhaustion rather than valuations. Trend reversals, he added, are driven more by capital structure and liquidity than by investor sentiment. He now sees limited selling pressure amid growing demand from ETF inflows, which are absorbing daily supply, and from companies shifting treasury assets into bitcoin.

Next Catalyst: Banking and Digital Credit on Bitcoin

Saylor believes the next bull market catalyst will be the formation of banking credit and digital credit on top of bitcoin, supporting lending and credit activity beyond simple buy‑and‑hold demand. He cited Strategy’s STRC preferred stock, which carries an 11.5% yield, as an existing form of digital credit. He said Strategy is “stretching” bitcoin “from a non‑yielding asset into a capital markets engine.”

Quantum Threat Overblown, Easily Solvable

On quantum computing, Saylor argued that the threat is theoretical, likely decades away, and even then solvable. His comments follow recent research from Google Quantum AI suggesting that breaking Bitcoin’s encryption might require fewer qubits than previously estimated. Saylor dismissed near‑term concerns.

Saylor Rejects Adam Back as Satoshi, Demands Cryptographic Proof

Responding to a New York Times investigation that used stylometry to suggest Adam Back is Bitcoin’s pseudonymous creator, Saylor said stylometry is “interesting, but not proof.” He pointed to contemporaneous 2008 emails between Satoshi and Back as evidence they were distinct individuals. “Until someone signs with Satoshi’s keys, every theory is just narrative,” he said. Back himself has firmly denied being Satoshi.

Mizuho Maintains Outperform Rating on Strategy

Mizuho retained its outperform rating on Strategy and a $320 price target, suggesting approximately 150% upside from the current share price near $127. Strategy holds 766,970 BTC acquired for roughly $54.57 billion, making it the largest corporate holder globally.

FAQ

What does Michael Saylor believe is the next catalyst for bitcoin’s bull market?

Saylor believes the formation of banking credit and digital credit markets built on bitcoin will drive the next surge, turning bitcoin from a non‑yielding asset into a capital markets engine. He points to Strategy’s STRC preferred stock (11.5% yield) as an example of digital credit.

How does Saylor view the quantum computing threat to bitcoin?

Saylor argues the quantum threat is theoretical, likely decades away, and solvable. He downplays recent research suggesting lower qubit requirements, maintaining that the risk is overblown.

Why does Saylor reject the claim that Adam Back is Satoshi Nakamoto?

Saylor cites contemporaneous 2008 emails between Satoshi and Back as evidence they were separate individuals. He insists that only a signature from Satoshi’s private keys would prove identity, calling stylometry “interesting, but not proof.”