Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

Bitcoin would reach $150,000 by year end, according to Strategy (NASDAQ:MSTR) Chair Michael Saylor.

“Our expectation right now is end of the year, it [Bitcoin] should be about $150,000,” Saylor told CNBC on Monday on the sidelines of the Money 20/20 conference in Las Vegas. He added that he expected the leading digital asset to “grind up” to $1 million in the next four to eight years and eventually $20 million.

Don’t Miss:

• Deloitte’s #1 Fastest-Growing Software Company Lets Users Earn Money Just by Scrolling — Accredited Investors Can Still Get In at $0.50/Share.

• Missed Nvidia and Tesla? RAD Intel Could Be the Next AI Powerhouse — Invest Now at Just $0.81 a Share

Saylor cited the growing acceptance of Bitcoin and the broader cryptocurrency industry by big banks as a major reason for his bullishness. Banks such as JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC) and Citigroup (NYSE:C) would “introduce Bitcoin and digital assets to the next billion people,” he said. He added that he saw their involvement in the space, leading to a tenfold increase in the market’s size.

Another factor Saylor considered to be bullish for Bitcoin is the adoption of so-called artificial intelligence agents by financial institutions. He told CNBC that these AI agents would need faster rails than what traditional finance could offer, leading to greater adoption of blockchain technology. He said in the digital economy stablecoins would be the preferred medium of exchange and Bitcoin would be the preferred store of value.

Trending: Accredited Investors Can Now Tap Into the $36 Trillion Home Equity Market — Without Buying a Single Property

Saylor said the recent positives for Bitcoin and the broader cryptocurrency industry followed a significantly positive 12 months, driven by the U.S. administration change. Since returning to office, President Donald Trump has established a strategic Bitcoin reserve, signed stablecoin legislation and placed cryptocurrency proponents at the helm of several regulatory agencies.

“I just really don’t think the industry could ask for much more,” Saylor said, citing Trump’s strategic Bitcoin reserve, the Securities and Exchange Commission’s “Project Crypto,” and the Treasury Secretary Scott Bessent‘s backing of stablecoins.

Saylor’s year-end Bitcoin target aligns with the continued bullishness of several analysts. Bitwise investment chief Matt Hougan, for example, last week said Bitcoin would reach new highs before the year runs out.