Michael Saylor, founder of Strategy, remains confident that Bitcoin is in the early stages of a bull market and could surpass $100,000. Bitcoin surged 51% from July lows of $57,800 to above $87,000, though it has traded sideways between $80,000 and $87,000 in October. Strategy increased its holdings to a record 848,250 BTC worth approximately $70 billion, following a $21 million purchase, though the buying pace has slowed compared to previous quarters. Market demand has recovered from deep negatives in late September to neutral levels in mid-October. Whether Bitcoin demand turns positive depends on upcoming U.S. CPI data and the Federal Reserve’s rate decision.
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