Michael Saylor, the founder of BTCUSDStrategy, has offered his insights into why Bitcoin has not yet reached a $150,000 valuation. He suggests that Bitcoin’s growth has been curtailed by investors without long-term vision selling off their assets, while a new breed of investors has started to explore the market.
“We’re currently experiencing a market rotation,” Saylor said on the Coin Stories podcast with Natalie Brunell on May 9. He pointed out that the absence of a “10-year investor mindset” has spurred a Bitcoin sell-off.
According to Saylor, “a significant number of non-economically motivated parties are withdrawing from the asset.” However, concurrently, a fresh group of investors is making their entrance. He noted that “a substantial amount of Bitcoin was left in the hands of governments, lawyers, and bankruptcy trustees.”
Saylor observed that many of these trustees lack a “10-year investors mindset,” and they saw the increasing BTCUSD price as a prime opportunity for liquidation. “Those less committed to the long term have seized the chance to exit the market, while a new class of investors is entering via ETFs and Bitcoin treasury companies,” he explained.
Bitcoin hit an all-time high of $109,000 on January 20, which coincided with the inauguration of US President Donald Trump. After this peak, the cryptocurrency experienced a downturn, dropping to $76,273 on April 9, before starting to rebound. On May 8, Bitcoin regained the $100,000 level for the first time since February 1 following Trump’s proposed tariffs.
The recent price surge has elevated Strategy’s Bitcoin holdings to 50.27% above their average Bitcoin purchase price of $68,569. As of the time of writing, the firm possesses 555,450 Bitcoin, valued at roughly $57.23 billion, as per Saylor Tracker data.
Saylor also shared his surprise over the US government’s changing sentiment towards Bitcoin. He expressed his astonishment at how rapidly the US has embraced Bitcoin following Trump’s inauguration. “I didn’t anticipate the members of the Cabinet to be so enthusiastic,” he said.
