“$1 million per Bitcoin is reasonable, but not impossible,” says Strike CEO

• Strike CEO predicted that BTC could hit $1 million amid a potential bond market bailout.
• However, BTC suffered from short-term selling pressure from Germany as Mt. Gox plans to dump $9 billion.

Bitcoin (BTC) has retested the lows at $61,000 and is threatening to fall even lower. Despite the negative volatility to the downside, some industry insiders remain giga-bullish on the premier digital asset.

MicroStrategy’s Michael Saylor recently predicted that BTC could reach $10 million per coin. Strikes CEO Jack Mallers has joined the list of bold long-term BTC predictions with a target of $1 million per BTC.

In a recent interview with Scott Melker of The Wolf of All Streets, Mallers said: noticed,

“I think a Bitcoin worth a million dollars is realistic, it’s not impossible”

Maller’s price target was based on his prediction that central banks would print money to support bond markets. According to the manager, such a scenario would also boost BTC and is inevitable.

Will the bond market bailout boost BTC?

Mallers acknowledged that the halving favors price discovery for BTC as the inventory reduction cuts the supply schedule in half. However, he added:

“I think the bigger catalyst is the government bond market.”

The sovereign debt market, also known as the bond market, is used by governments to borrow money to finance their national programs.

The debt can be short-term or long-term, but the sector is reportedly in crisis and needs a massive bailout, Mallers said.

In the second quarter Mike Novogratz and BitMEX founder Arthur Hayes shared a similar view. Hayes in particular underlined that the ongoing crisis in Japan and the dumping of US bonds could lead to a “covert injection of liquidity” and boost BTC.

On memecoins, especially Solana memecoins, Mallers viewed you as,

“Another way to make money from the inherent speculation that the population has to go through during this period of devaluation.”

In other words, according to Mallers, memecoins are part of a degenerate speculation caused by central banks’ currency devaluations.

Meanwhile, BTC bears took over after pushing the price down to a range low of $61,000. To update that Mt Gox was ready to compensate the victims in early July.

In response to the selling pressure, Charles Edwards, founder of crypto hedge fund Capriole Fund, said noticed,

“Germany is throwing $3 billion into the market and now MtGox is throwing $9 billion worth of Bitcoin into the market.”