Bitcoin Bottomed at $60K, Saylor Says; Quantum Risk Called Overblown

Michael Saylor, executive chairman of Strategy, shared his outlook on Bitcoin’s price trajectory and the risks posed by quantum computing during a Mizuho investor event. Saylor said he believes Bitcoin likely found its floor near $60,000.

Bitcoin’s drawdown and why Saylor sees a floor near $60,000

Saylor attributed the recent Bitcoin downturn largely to forced sellers, particularly over-leveraged miners, alongside liquidations by weaker market participants. He said the selling pressure has been easing, allowing market dynamics to shift toward buyers.

In his view, this pattern is typical of how Bitcoin downturns resolve: the turning point tends to come from the exhaustion of forced selling rather than from sentiment improving first. He pointed to ETF demand as one stabilizing factor, alongside improving liquidity expectations.

Saylor also cited growing corporate treasury allocations to Bitcoin as a factor that can limit additional downside pressure. Taken together, he described the market setup as “asymmetric,” implying less room for large further declines.

At the time of this report, Bitcoin was trading near $71,200, reflecting some recovery from the lows Saylor referenced. The broader market context includes ongoing geopolitical tensions, including developments tied to the Middle East, which continue to weigh on risk assets.

Quantum computing risk: theoretical, distant, and manageable

Saylor addressed concerns that quantum computing could threaten Bitcoin’s cryptographic systems. He characterized the risk as theoretical and distant rather than immediate or pressing.

He argued that any credible quantum breakthrough would likely emerge gradually enough for the network to respond. Saylor also pointed to Bitcoin’s open-source structure, saying developers could roll out quantum-resistant upgrades when needed.

He said this perspective aligns with some Wall Street assessments. Bernstein, for example, described quantum risk as a manageable upgrade cycle for the crypto industry, while Benchmark characterized it as long-dated rather than requiring urgent action. Saylor framed these views as consistent with broader institutional consensus that the timeline is not alarming.

Counterpoints and ongoing debate

Not all researchers share the same level of comfort. Google researchers have warned that breakthroughs could arrive sooner than the industry currently expects, fueling debate over how quickly crypto networks should transition to new cryptographic standards.

Saylor’s position is that the crypto community can handle any necessary response through software upgrades. He said there is no reason for the market to treat quantum risk as a near-term concern for Bitcoin holders, arguing that the network’s adaptability is sufficient to manage the challenge when it becomes real.