Bitcoin Still Falling Short of $150K as Outsiders Remain Uninvolved — Michael Saylor
Michael Saylor, founder of Strategy, explains that Bitcoin hasn’t hit the $150,000 mark yet due to short-term holders selling off, while a new wave of investors is starting to enter the market.
“I believe we are witnessing a rotation at this moment,” Saylor stated on the Coin Stories podcast with Natalie Brunell on May 9.
The absence of a “10-year investor mindset” has contributed to Bitcoin sell-offs
Saylor noted that “many parties not genuinely interested in economics are moving away from the asset.” Simultaneously, “a new group of investors is emerging.”
“A significant amount of Bitcoin is, for various reasons, held by governments, lawyers, and bankruptcy trustees,” he remarked.
Saylor from Strategy conversed with Natalie Brunell on the Coin Stories podcast. Source: Natalie Brunell
Saylor mentioned that many trustees lack a “10-year investor mindset,” and as Bitcoin’s (BTC) price began to climb, they seized the moment and “believed this was a favorable exit point for liquidity.”
“Consequently, less committed individuals have taken their chance to withdraw from the market, while a new class of investors is coming in through ETFs and Bitcoin treasury firms.”
After Bitcoin peaked at $109,000 on January 20, just hours before President Donald Trump’s inauguration, it went into a downtrend, dipping to $76,273 on April 9 before beginning to show signs of recovery.
On May 8, Bitcoin crossed the $100,000 threshold for the first time since February 1, following Trump’s proposal of tariffs. This recent price uptick has increased Strategy’s Bitcoin holdings to 50.27% above their average purchase price of $68,569. As of the latest update, the firm possesses 555,450 Bitcoin, worth approximately $57.23 billion, according to data from Saylor Tracker.
Saylor is taken aback by the shift in US government sentiment
Spot Bitcoin ETFs saw inflows of $564.7 million over the past five trading days, as per Farside data.
However, Saylor mentioned that he isn’t surprised the US government hasn’t yet acquired Bitcoin for its Strategic Bitcoin Reserve, which was authorized by an executive order signed by Trump on March 7. This reserve consists of Bitcoin forfeited during criminal or civil asset seizure actions.
Yet, Saylor did not expect the government’s stance to shift so positively so quickly after Trump’s inauguration.
Related: Strive to become a Bitcoin treasury company
“I was astonished that the US has embraced Bitcoin as significantly as it has over the past six months; I didn’t foresee all Cabinet members being so enthusiastic,” he expressed.
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