Key Points:

Bitcoin (BTC) extremist Brad Mills predicts that the market is at the dawn of the "Saylor Cycle," a decade-long growth period driven by Michael Saylor's influence and a 591,000 BTC treasury, which is expected to continue.

Mills believes that Bitcoin's transformation from an "illegal asset" to a "must-have asset" could lead corporations and nations to hoard it as a treasury and strategic reserve. He cites El Salvador's holding of 6,209 BTC and Saylor's vision for a $200 trillion economy as evidence of bullish momentum.

Mills' outlook is based on Bitcoin's supply cap of 21 million and the scarcity caused by halving events, which reduce supply by 50% every four years while demand continues to grow. Block, Inc.'s business branch Square plans to launch a payment method based on the Lightning Network before 2026, reducing merchant fees by 50% and driving transaction usage. Chaumian eCash mints like CashuBTC are achieving scalable, privacy-focused retail savings through tokenized sats. Mills expects these two companies to drive Bitcoin exposure, "enabling small retail savers to accumulate sats."

The investor predicts that Bitcoin will grow 100 times in the next 10 to 20 years, reaching $10 million, with bear market declines slowing to 50% and bull market annual gains peaking at 200%, contrasting with BTC's historical 80% to 90% pullbacks.

However, Blockstream CEO Adam Back has suggested the possibility of a "parabolic breakout," believing that BTC is currently in a transitional phase before a traditional price cycle breakout. Back states that Bitcoin may experience a steeper rise driven by increasing adoption rates and reduced market volatility, rather than following the usual diminishing returns pattern.

This perspective challenges traditional models like Stock-to-Flow (S2F) and power law predictions, implying that the market may enter a phase where Bitcoin's value could soar, especially as more institutions and corporations accept it as a treasury asset.

Veteran trader Peter Brandt recently speculated that Bitcoin could drop 75%, similar to the decline in 2022, but this view has been questioned by analysts like Pav Hundal, who argue that BTC is currently supported by institutional adoption, unlike in 2021. This supports Mills' view on reduced volatility.

The U.S. government's move towards establishing a strategic Bitcoin reserve marks a potential shift in Bitcoin market dynamics. Senator Cynthia Lummis's Bitcoin reserve bill is backed by a March 2025 executive order from President Trump, initiating a reserve of 200,000 BTC sourced from assets seized in past criminal cases.

While this initiative will not immediately affect supply (as these BTC are already under custody), it signifies a policy shift: the U.S. intends to hold rather than sell its Bitcoin assets. The order also authorizes the expansion of reserves through budget-neutral methods such as asset swaps or sovereign mining, indicating a long-term commitment without relying on taxpayer funds.

Veteran investor Chris Dunn believes that such developments could reduce the impact of internal price drivers (like halving cycles) on Bitcoin, shifting focus to external macroeconomic forces. If more countries adopt similar reserve measures, Bitcoin could evolve into a global strategic asset alongside gold and U.S. Treasury bonds. This aligns with Brad Mills' argument about the "Saylor Cycle" driven by institutional and national adoption.

However, the prediction of Bitcoin reaching 100 times its value depends on speculative variables such as regulatory clarity and sustained institutional investor demand.

This article does not contain investment advice or recommendations. Any investment and trading activities involve risks, and readers should conduct their own research before making decisions.

Related: Trump urgently convenes advisors in the war room, Bitcoin (BTC) responds with a drop.

Original: “Early Bitcoin Adopter Says BTC Could Have Another 100x Cycle”

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