Bitcoin’s Fixed Supply May Drive Price to $8.5 Million, Saylor Says

Michael Saylor, CEO of MicroStrategy, has once again made headlines with his ambitious forecast for Bitcoin, predicting the cryptocurrency could reach $8.5 million. This projection, made in a chart shared on X by an account known as "Documenting Saylor," outlines a long-term logarithmic growth trajectory for Bitcoin, suggesting the price will continue to follow its historical trend. The current price of $112,710 implies a potential 7,489% increase to reach Saylor’s target, which would require the total market cap to expand to approximately $167 trillion—about 75 times its current valuation.

The forecast is not isolated; other industry voices are also pointing to a multi-million dollar price tag for Bitcoin. Luke Broyles, a Bitcoin Adviser, has similarly predicted prices could rise to between $5 million and $10 million. Broyles emphasized the persistent skepticism surrounding Bitcoin, noting that critics have historically doubted its potential even as it continues to push higher. He argues that the narrative of “reaching a peak” will likely repeat, but the underlying fundamentals—such as limited supply and growing institutional adoption—support further appreciation.

Saylor’s analysis is grounded in the concept of a logarithmic regression chart, which has tracked Bitcoin’s price since 2011. The chart shows that despite short-term volatility, Bitcoin has consistently remained above its long-term growth curve. According to the projections, the next major resistance level sits at $444,000, followed by a mid-term target of $1.6 million. If Bitcoin maintains its trajectory, the price could eventually reach $8.5 million or beyond. The fixed supply of 21 million coins and increasing demand from institutional investors are cited as key drivers supporting this exponential growth.

The feasibility of these projections, however, depends heavily on continued mainstream adoption. Already, major corporations are incorporating Bitcoin into their treasury strategies, and the rise of Bitcoin ETFs has further legitimized its role in global finance. Saylor’s own company, MicroStrategy, is a prime example of this trend, having invested heavily in Bitcoin over the past few years. If more institutional players follow suit and Bitcoin integrates into global financial infrastructure, the demand could surge significantly, further validating the long-term bullish outlook.

Market analysts have also highlighted the cyclical nature of Bitcoin’s growth, particularly in relation to halving events. Historically, each halving has led to a new all-time high as supply constraints and reduced issuance drive up demand. With the next major cycle anticipated to unfold over the coming years, the path to $1 million or $8.5 million is being framed not as an anomaly, but as a continuation of an established pattern. As long as Bitcoin maintains its position above the logarithmic growth curve, the expectation is that it will continue to break new highs with each cycle.