Bitcoin Is Going To USD 1M, Says Michael Saylor, Rejecting Market Slowdown Worries

Michael Saylor, co-founder and executive chairman of Strategy, has dismissed concerns about a potential return of the crypto winter, expressing confidence in Bitcoin's long-term growth. Speaking to Bloomberg on Tuesday, Michael Saylor dismissed the idea of another crypto winter, expressing confidence that Bitcoin has moved past that phase and is on a long-term upward path. He suggested that if Bitcoin isn’t collapsing to zero, it’s likely headed toward the $1 million mark. His remarks align with the current wave of optimism and sustained institutional interest in the cryptocurrency market.

Saylor noted that Bitcoin's supply is becoming increasingly limited, with miners creating around 450 BTC every day, which is equivalent to approximately $50 million at current pricing. He argued that if institutional investors continue to absorb this daily supply, the price will inevitably rise. “If that $50 million is bought, then the price has got to move up,” he said, according to coinTelegraph.

He also highlighted that publicly listed firms are buying up much of the available Bitcoin supply. Strategy, Saylor’s company, has been at the forefront of this trend, accumulating 582,000 BTC since 2020, now valued at nearly $64 billion, according to Saylor Tracker.

Trump-Linked Mining Firm American Bitcoin Acquires 215 BTC Post Launch

American Bitcoin, a mining company supported by Donald Trump Jr. and Eric Trump, has quietly built a reserve of 215 Bitcoins since its launch on April 1, as revealed in a June 6 filing with the U.S. Securities and Exchange Commission. The reserve, now valued at over $23 million, marks the firm’s strategy to actively accumulate Bitcoin as a long-term asset rather than a byproduct of mining operations.

According to the filing, the company, known as ABTC, does not follow a set target for Bitcoin holdings. Rather, it adapts its approach in response to market circumstances and available funds. In three locations in New York, Alberta and Texas, ABTC manages over 60,000 mining rigs by utilizing mining pools like Foundry and Luxor

The firm recently announced plans to merge with Gryphon Digital Mining in a stock-based deal. After the merger, Eric Trump will join the board, and Hut 8, a crucial partner, will continue to manage mining operations and infrastructure.

Franklin Templeton Introduces Real-Time Yield for Tokenized Assets via Benji Platform

Franklin Templeton, a global investment business managing $1.53 trillion in assets, has added a Intraday Yield function to its Benji tokenization platform. This new feature enables investors to earn yield based on the exact time they hold a tokenized asset, even if it is sold before the day is up. This framework provides real-time accrual including on weekends and holidays, in contrast to standard systems that only compute yield at the end of the day and pay monthly.

Designed to address long-standing inefficiencies in how yield is distributed, the feature aims to modernize returns in the digital asset space. Franklin Templeton already manages one of the largest tokenized treasury funds, with $750 million in assets. The broader tokenized asset market has surged, with a market cap of $23.14 billion as of June 9, up nearly 47 per cent since January, coinTelegraph reported.