Holding For Gold: Micheal Saylor’s Poll Unveils Bitcoin Enthusiasts Aiming For $1 Million Mark

Samuel Edyme

1 year ago

3 mins read

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Recently, Michael Saylor, the founder of MicroStrategy and a prominent Bitcoin (BTC) proponent, took to social media to gauge the Bitcoin community’s sentiment on the future price of the digital asset.

Saylor, who has transitioned from CEO to head of Bitcoin strategy at MicroStrategy, posed a significant question to the Bitcoin community on X. Saylor’s inquiry was straightforward yet profound: “How high will BTC need to rise before you would consider selling a small portion of your Bitcoin?”

This question, aimed at understanding the threshold that might trigger selling decisions, garnered extensive attention, with roughly 122,839 individuals participating in the poll. The answers, revealing the mindset of the Bitcoin community, ranged from moderate to extremely bullish sentiments.

Surprising Results: Majority Eye $1 Million Bitcoin Threshold

The survey results painted a fascinating picture of the BTC community’s outlook. While a minority of respondents, 18.8% and 14.1%, selected $250,000 and $500,000 price points, a significant portion of the community leaned towards much higher figures.

Notably, 36.3% of voters indicated a price range from $1 million to never selling their Bitcoin holdings, highlighting a strong belief in BTCs long-term value. Additionally, 30.8% of participants marked $100,000 as their potential selling point.

Saylor’s survey revealed the community’s predominant inclination to hold BTC until it reaches or surpasses the $1 million mark. Some were willing to hold indefinitely, reflecting a deep-rooted confidence in Bitcoin’s future.

How high will $BTC need to rise before you would consider selling a small portion of your #Bitcoin?

— Michael Saylor⚡️ (@saylor) December 6, 2023

Institutional Capital And Halving Events: Catalysts For A $1 Million BTC

As the crypto space closely watches these survey results, the $1 million price point for Bitcoin is increasingly viewed as a realistic possibility by many enthusiasts and experts alike. Samson Mow, the CEO of Jan3 and a vocal BTC advocate, recently supported this view.

Mow agreed with the general sentiment of Saylor’s survey, stating that while “Balaji wasn’t wrong about BTC going to $1M,” he was perhaps wrong about the timing and the driving factors.

Mow attributed the potential surge to a confluence of significant institutional investment and the impact of Bitcoin halving events. The halving, a scheduled reduction in BTC mining rewards, inherently limits the new supply of Bitcoin, thereby introducing a scarcity factor.

Coupled with a projected influx of institutional capital into the crypto market, these factors could collectively catalyze Bitcoin’s price to unprecedented heights. Mow’s analysis aligns with the optimism reflected in Saylor’s survey, underlining a solid belief in Bitcoin’s capacity for substantial value growth.

Balaji wasn’t wrong about #Bitcoin going to $1M, but he was wrong on the timing and the catalyst.

My $1M call is based on a massive rapid influx of institutional capital while Bitcoin available for sale is at historical lows, compounded by the halving.

His $1M prediction was…

— Samson Mow (@Excellion) December 6, 2023

It is worth noting that this optimism within the Bitcoin community, coupled with expert insights, suggests a future where Bitcoin’s valuation might reach, or even exceed, the coveted $1 million mark.

Bitcoin (BTC) price chart on TradingView — Bitcoin (BTC) price is moving sideways on the 4-hour chart. Source: BTC/USDT on TradingView.com

Featured image from Unsplash, Chart from TradingView

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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