Bitcoin Heading to $1 Million: Michael Saylor and Adam Back Reignite Belief in Extreme Bull Potential
The cryptocurrency market exploded with a wave of optimism after two of the most influential figures in the space, Michael Saylor and Adam Back, reaffirmed their absolute belief in the future of Bitcoin. Their bold statements on the X platform (formerly Twitter) immediately attracted the attention of the community, reviving the legendary story of an attempt to buy the entire Bitcoin supply for just a few cents.
Michael Saylor, Executive Chairman of MicroStrategy (MSTR), who is known as one of the world’s largest Bitcoin holders through his foundation, stated emphatically: “If Bitcoin does not go to zero, it will go to $1 million.” This is not the first time he has expressed this opinion. Saylor previously claimed that the crypto winter was over and the market was entering a sustainable growth cycle. MicroStrategy currently holds over 582,000 BTC a clear testament to his long-term belief in the digital asset.
Soon after, Blockstream CEO and Bitcoin pioneer Adam Back responded with a cryptic but equally powerful response. He recalled a limit order he placed on Bitfinex in 2020: to buy all 21 million BTC at $0.02 per coin. The order was seen as a symbolic move expressing his absolute belief that Bitcoin would never become worthless. Previously, investor Alistair Milne also publicly placed a buy order of 18.6 million BTC at $0.01.
While these limit orders were never executed and were later canceled, they remain a memorable landmark in Bitcoin history that symbolizes the steadfast spirit and long-term vision of the pioneers. Adam Back confirmed that his order existed for a short period of time in 2020, before he decided to cancel it to use liquidity to buy BTC in the usual way.
The return of this conversation not only brought back memories of Bitcoin's early days of skepticism, but also reflected a major shift in current market sentiment. Many users on the X platform began to make bolder predictions, not just stopping at the $1 million target but also aiming for larger numbers like $5 million or even $13 million, a price that Saylor had previously suggested as a "fair value" if Bitcoin became a global reserve asset.
These statements come as major financial institutions, from hedge funds to traditional banks, are increasingly expanding their involvement in the Bitcoin market through ETFs, trading platforms, and long-term holding strategies. At the same time, the supply of BTC continues to shrink, with the issuance rate slowing down after each halving.
While the path to $1 million remains challenging, especially given macro factors such as monetary policy, regulation, and global market volatility, the persistence and strategic vision of people like Saylor and Back are energizing the entire community.
These are more than just statements of faith, they are also reminders that Bitcoin, with its limited supply and decentralized nature, can become one of the leading stores of value in the digital financial era. And if that comes true, the $1 million price tag may no longer be a pipe dream, but an inevitable milestone in the development journey of the world's largest cryptocurrency.