Speaking at Money 20/20 in Las Vegas, Michael Saylor, a prominent Bitcoin advocate, shared an exceptionally optimistic outlook for the cryptocurrency. He projected that Bitcoin could reach $150,000 by the end of 2025 and an astonishing $1 million within the next four to eight years. In an interview with CNBC, Saylor elaborated on the transformative developments reshaping the digital asset industry, alongside the innovative investment products his company, Strategy, is building. He described these initiatives as key catalysts poised to accelerate institutional adoption of Bitcoin on a global scale.

A major milestone highlighted by Saylor was Strategy’s recent achievement of its first-ever credit rating from S&P, a B-minus? making it the first Bitcoin-focused treasury company to receive such recognition. Saylor emphasized the significance of this development, calling it “a very auspicious start because it represents institutional adoption of Bitcoin-backed credit.” He explained that this rating opens access to potentially hundreds of billions, if not trillions of dollars in capital from investors who previously avoided unrated instruments. This, he noted, substantially broadens the investment landscape for Bitcoin-related assets.

Strategy is also rapidly strengthening its market presence. According to 10X Research, there is a 70% probability that the company will join the S&P 500 index before the end of the year. Anticipation is mounting for its upcoming Q3 2025 earnings report, expected on Thursday, which could reveal an estimated $3.8 billion gain tied to fair-value Bitcoin accounting.

Saylor further detailed Strategy’s growing lineup of digital credit instruments, namely Strike, Strife, Stride, and Stretch, each tailored to different investor risk profiles. These instruments combine varying levels of principal protection, dividends, and yields ranging from 8% to 12.5%, appealing to both high-risk investors seeking amplified Bitcoin exposure and conservative investors desiring lower-volatility returns. A distinctive feature of these products is their tax-free dividend structure, categorized as a return of capital, offering an effective tax-equivalent yield of 16–20%. Saylor confidently stated, “A treasury company built on Bitcoin is the most tax-efficient fixed income generator in the world.”

Beyond Strategy’s specific innovations, Saylor highlighted the growing acceptance of Bitcoin across the traditional financial sector. Major U.S. financial institutions, including JP Morgan, Bank of America, and BNY Mellon, are now offering loans collateralized by Bitcoin, with some advancing toward providing direct Bitcoin custody services. Saylor declared, “The train has left the station. Everybody’s moving forward,” signifying what he views as an irreversible shift toward Bitcoin integration.

He attributed this accelerating momentum to a maturing infrastructure supported by pro-crypto policies from the White House, Treasury, SEC, and CFTC, which he described as having created “probably the best 12 months in the history of the industry.” In a broader reflection on the digital economy, Saylor underscored the dual role of Bitcoin and other digital assets. He described Bitcoin as a long-term store of value “digital capital” while stablecoins and tokenized currencies serve as mediums of exchange within an increasingly AI-driven financial ecosystem.

Discussing market dynamics, Saylor observed a decline in Bitcoin’s volatility as the industry matures, driven by the growth of derivatives and hedging instruments. Analysts closely tracking Strategy and the Bitcoin market largely concur with Saylor’s forecast, predicting the cryptocurrency could reach $150,000 by year’s end and potentially surpass $1 million per coin in the coming decade. Looking even further ahead, Saylor estimates Bitcoin could appreciate by approximately 30% annually over the next two decades.