Saylor says Bitcoin hits $10M before advisors buy in

Michael Saylor, executive chairman of Strategy, believes financial advisors will not fully endorse Bitcoin (CRYPTO:BTC) until its price reaches $10 million.

“By the time your financial adviser says it’s OK to buy bitcoin, it’ll cost \$1 million. When they say it’s a good idea, it’ll be \$10 million,” Saylor remarked in a post on X.

The statement accompanied a chart shared by Tephra Digital on April 30 that highlights the limited access financial advisors currently allow for Bitcoin exchange-traded funds (ETFs).

According to Tephra Digital, more than $50 trillion in assets managed by wealth firms remain largely restricted from accessing Bitcoin ETFs.

Only around 38% of those assets are at firms with unrestricted access.

Firms such as Charles Schwab, Fidelity, and Wells Fargo have reportedly granted full access, covering a combined $19.1 trillion in assets.

Meanwhile, platforms controlling about $20.9 trillion offer restricted access based on factors like account type, investor eligibility, or exposure limits.

Another $10.3 trillion is managed by firms that completely prohibit access to Bitcoin ETFs, including Vanguard, Edward Jones, and Citi.

Tephra Digital’s analysis, based on direct conversations with advisors, estimates the potential capital inflow if restrictions were reduced.

If just 5% of assets on prohibited or restricted platforms were allowed into Bitcoin ETFs, the market could see inflows of up to $1.56 trillion.

A 1% allocation would still result in $312 billion moving into Bitcoin ETFs.

While some firms cite volatility and regulatory uncertainty as reasons for maintaining restrictions, proponents argue that broader access could drive institutional adoption further.

At the time of writing, the Bitcoin (BTC) price was $97,127.86.