Michael Saylor outlined a new vision for Bitcoin as “digital capital” at Cantor Crypto, while a trader on X warned that Strategy Inc. shares may drop to $100. Their views place Bitcoin’s next phase beside fresh technical concerns for the company’s stock.
Saylor outlines Bitcoin’s next phase at Cantor Crypto conference
Michael Saylor used his keynote at the Cantor Crypto & AI/Energy Infrastructure Conference in Miami to outline how he sees Bitcoin entering a new stage of adoption. He called 2025 a turning point as large financial institutions expand custody products, collateral services and ETF exposure. He said these developments shift Bitcoin from a niche asset toward what he described as a form of digital capital used inside major markets.
Michael Saylor Bitcoin Digital Capital. Source: X
He pointed to US banks such as JPMorgan, BNY Mellon, Wells Fargo and Schwab now accepting Bitcoin as collateral. Citigroup’s custody work and the scale of spot ETFs, including the IBIT fund surpassing $100 billion in assets, marked what he views as a broad shift in market structure. These steps, he said, reduce barriers for corporations and long-term holders who want exposure without managing private keys.
Saylor also described Strategy Inc.’s “digital treasury” model as an example of corporate adoption. He explained that the company issues securities, buys Bitcoin and then uses its holdings to support additional financing. According to him, this approach creates a repeatable cycle that converts traditional balance-sheet assets into Bitcoin while still allowing companies to raise capital during growth phases.
He then argued that Bitcoin-backed credit represents the next major development. In his view, lending markets will increasingly allow companies to borrow against long-term BTC reserves instead of selling coins during downturns. He said this shift could create a new class of credit products that stabilizes corporate balance sheets and deepens institutional use of Bitcoin.
Throughout the talk, Saylor framed the United States as a central driver in this transition. He tied the momentum to recent political changes in Washington and said they could position the country as a leading Bitcoin jurisdiction.
Trader flags risk of deep pullback in Strategy shares
Trader J. Fong shared a chart of Strategy Inc. (MSTR) on X, arguing that the stock could eventually fall to $100. He wrote that he cannot predict when MSTR will reach that level but is confident it will do so at some point, framing the call as a long-term target rather than a short-term forecast.
MicroStrategy MSTR Price Chart. Source: J. Fong
The chart shows MSTR’s strong advance from its earlier lows, followed by a sharp reversal and a break below a long-running uptrend line. The price now sits under that former support while Fibonacci retracement levels mark potential areas where the stock could pause or bounce. The layout suggests that the prior rally phase has given way to a corrective structure that leans lower.
Fong’s analysis highlights $100 as a distant support zone that lines up with earlier trading ranges on the chart. A move to that area would represent a large drop from recent prices and underline how tightly MSTR still tracks Bitcoin’s swings. His post underlines that, in his view, the technical picture now points to meaningful downside risk even though the timing remains uncertain.
Source: https://coinpaper.com/12334/saylor-pushes-bitcoin-s-next-phase-as-chart-watchers-point-to-a-deep-pullback-in-strategy-stock
