MicroStrategy is the largest public holder of Bitcoin, possessing a reserve of 140,000 coins. This now amounts to $3.5 billion and accounts for 0.7% of the total supply.

MicroStrategy CEO Michael Saylor believes that the current changes in cryptocurrency regulation will increase market transparency and Bitcoin's dominance. 

Instead of trying to break down cryptocurrencies into asset classes through clearly defined criteria, the SEC chairman is willing to label all altcoins as securities. This has already led to Bitcoin's share of the cryptocurrency market increasing from 40% to 47% in 2023.

As only Bitcoin has the unambiguous status of being a commodity, crypto exchanges and other market players will have to rely on it for the most part. The increase in the transparency of regulations will push institutional actors to take more active actions. But for now, however, they're doing the opposite; they've cut their presence in Bitcoin funds, with an outflow exceeding $400 million in eight weeks.

The advent of a proper regulatory framework will also pave the way for a long-awaited Bitcoin ETF in the US instead of a Bitcoin futures ETF (we covered the shortcomings of the latter here).

According to Michael Saylor, Bitcoin's further capture of market share would see its percentage of the cryptocurrency field grow to 80% and its price rise to $250,000.

A more down-to-earth estimate for the next 12 months can be obtained by extrapolating cycles starting from major historical highs.

The new cycle largely repeats previous ones, suggesting growth by mid-2024 of 50-100% on the current price to reach the $38,000 to $50,000 range. Saylor didn't specify by which year he expects the price to reach $250,000.

StormGain Analytical Group 
(platform for trading, exchanging and storing cryptocurrency)