Michael Saylor, the CEO of MicroStrategy, on Monday, expressed his bullish stance on Bitcoin’s (CRYPTO: BTC) future

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"Bitcoin's price is still less than $0.05 million," he said.

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Saylor's approach to pricing Bitcoin in fractions of a million demonstrates how far he believes it can rise.

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His remarks come as Bitcoin experienced a 17.5% weekly increase and crossed the $50,000 threshold for the first time since December 2021.

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The price increase is in line with the inflow of capital into spot Bitcoin ETFs.

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Saylor promoted Bitcoin as a "asset of institutional quality," predicting that its value would reach $1 million per coin.

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"Bitcoin will reach $1 million if it doesn't drop to zero. All people are underallocated to it if it's a valid institutional asset, he claimed.

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Benzinga Pro shows that BTC was up 2.35% in the previous day, trading at $50,039 as of this writing.

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