Bitcoin has rebounded to about $6.13 million in the near future, but remains significantly below historical heights. According to external sources, Miller Valle Partners, Chief Investment Officer Bill Miller IV, and Strategy Executive Chairman Michael Saylor, have recently reiterated their view of the long-term perspective of the coin, although they do not have the same basis.

The U.S. deficit is still the core argument.

Bill Miller IV, in his interview, stated that the market was too concerned about short-term fluctuations in bitcoin, while ignoring the macro background that underpinned its long-term logic. He mentioned that the budget office of the United States Congress expected the United States budget deficit to reach $1.9 trillion, indicating that the Government continued to accumulate a large financial burden.

In his view, the underlying logic of bitcoin had not diminished. According to him, recording capital on the basis of consensus, energy and transparency was expected to be an alternative to the traditional monetary system.

AI deflation expected to be included in judgement

Miller also refutes the claim that “bitcoin lacks practical use”. He noted that Bitcoin had been born in the wake of the 2008 financial crisis and had been intended to provide an alternative to an unlimited expansion of the monetary system, a context that had not disappeared at present.

He further stated that artificial intelligence could bring greater deflationary pressure into the future. If this change reduces the price level in the economy, Governments may need to cope with debt pressures through more currency. In that context, he believed that bitcoin could still be seen as a counter-inflation and currency expansion tool.

Salle says the 3% increase is enough.

Unlike Miller, which focused on the macro, Saylor focused on Strategy ' s capital structure and return mechanisms. He stated that the performance of Strategy was often tied directly to the annual surge in Bitcoin, but the company did not rely on this extreme situation.

According to Saylor, Strategy only needs a bitcoin increase of about 3% to support its overall strategy. He also makes more specific judgements: if bitcoin increases by between 8 and 10 per cent annually, the company's equity performance may win bitcoin; if it increases by 15 per cent, the company's stock return may rise to 20 to 25 per cent.

  • The latest price of bitcoin is about $6.13 million.
  • Saylor says the required increase is about 3%.
  • If BTC increases by 15%, it claims that the company's share price returns 20 to 25%

At the same time, Saylor stated that Strategy had greater operational flexibility and capital choice, which meant that the company did not rely entirely on a sharp rise in bitcoin, but could still enhance shareholder returns through existing structures.

Overall, the central message of the commentary is that the recent recall has not changed the judgement of the two long-standing supporters. Miller continues to see bitcoin as a tool to deal with deficits and currency expansion, and Saylor emphasizes that even a moderate increase in bitcoin is enough to sustain Strategy’s long-term capital story.