Michael Saylor said Bitcoin (BTC) likely bottomed at $60,000 in early February, dismissing quantum computing threats to the network as theoretical and decades away from posing real danger.
Saylor's $60K Bitcoin Floor
Speaking at an investor dinner hosted by Mizuho in Miami, the Strategy executive chairman argued that market bottoms are shaped by seller exhaustion, not valuation models.
Over-leveraged miners and companies with weak balance sheets were flushed out during the drawdown, he said, leaving limited supply to weigh on prices.
Saylor pointed to ETF inflows absorbing daily Bitcoin production and growing corporate treasury allocations as factors that now support the market.
Trend reversals, he added, depend more on shifts in capital structure and liquidity than on sentiment alone.
Bitcoin was recently trading near $71,100, recovering from lows earlier this year amid geopolitical tensions tied to the U.S.-Iran conflict. Mizuho maintained its Outperform rating on Strategy shares with a $320 price target, implying roughly 150% upside from the current $127.
Also Read: Iran Loses 7 EH/s In One Quarter As Bitcoin Mining Power Shifts Elsewhere
Wall Street's Quantum Computing Debate
Saylor also pushed back on mounting concerns that quantum computing could eventually break Bitcoin's cryptographic defenses. The threat is theoretical, he argued, and the network's open-source architecture would allow developers to deploy resistant upgrades well before any attack becomes practical.
Bernstein analysts led by Gautam Chhugani echoed that view, calling quantum risk a "medium to long term system upgrade cycle" rather than an existential threat. Benchmark analyst Mark Palmer similarly described the danger as "long-dated" and manageable, noting that practical attacks remain decades away.
Not everyone agrees.
Google Quantum AI published research in March suggesting fewer resources may be needed to crack modern encryption than previously estimated, compressing the timeline and fueling debate over how urgently the industry should prepare.
Saylor's Broader Bitcoin Thesis
The Mizuho remarks are the latest in a string of bold public statements from Saylor. Days earlier, he declared that Bitcoin's traditional four-year halving cycle is dead, arguing that price action is now driven by institutional capital flows rather than supply shocks. Strategy itself has accumulated roughly 767,000 BTC and reported a $14.46 billion unrealized loss in Q1 2026, though the company continued buying through the downturn.
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