Michael Saylor sees BTC at $21 million by 2046, even as analysts warn of deteriorating on-chain liquidity and heightened short-term volatility.
By Parth Dubey
Editor Kirsten Thijssen
Updated
2 mins read
Bitcoin’s loudest advocate, Michael Saylor, has once again raised the bar for the digital asset’s potential. Speaking at the BTC Prague 2025 event, Saylor projected an eye-popping target: $21 million per Bitcoin within 21 years, calling this a “very special time in the network.”
Building on last year’s bold $13 million forecast, Saylor pointed to political developments, particularly Donald Trump’s presidential win and the White House’s unexpected embrace of Bitcoin, as paradigm-shifting events.
“We didn’t think we’d get a strategic Bitcoin reserve. This is an amazing development,” he said, also noting that there are three key crypto bills moving through Congress while many US states are also working towards establishing crypto reserves.
http://twitter.com/saylor/status/1936452216292065671
Analyst Willy Woo pointed to research from Swissblock, which shows a significant decline in on-chain liquidity, often a leading indicator of reduced market participation and price vulnerability.
According to Swissblock, the crypto system has “reset” to square one. While capital is rotating back into Bitcoin, overall activity has dropped, and liquidity is low, with prices being increasingly influenced by on-chain flows over macro trends.
http://twitter.com/woonomic/status/1936673839922167873
Swissblock noted that the bullish long-term structure remains intact, but a risk-off signal flipping to 1 would be a significant red flag.
Bitcoin Risk-off Signal | Source: Swissblock
Also, in a post on CryptoQuant’s Quicktake, Crypto Dan brought to light the surge in realized price, the average cost basis of all BTC holders, as a bullish sign. From early 2024 to mid-2025, realized prices have steadily climbed, indicating sustained buying pressure at higher prices.
This suggests that many market participants are betting on long-term upside, even amid macro uncertainty and short-term price stagnation.
Based on readings from the daily chart below, it’s clear that Bitcoin is undergoing a textbook consolidation phase after peaking around $113,038.
Key Fibonacci levels show support around the 0.236 retracement ($107,784) and floor at the 0.0 retracement ($102,837). The next bullish target is at the 1.618 extension level ($119,341), which serves as the next key upside target should Bitcoin regain its bullish momentum.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
