Michael Saylor believes Bitcoin’s price is being held back by short-term holders exiting the market — while institutional giants and ETFs move in.
“Rotation of Capital” Delays Bitcoin’s Next Leg Up
Speaking on the Coin Stories podcast with Natalie Brunell on May 9, MicroStrategy’s founder Michael Saylor said Bitcoin hasn’t broken $150,000 because a rotation is underway.
“A lot of Bitcoin was in the hands of governments, lawyers, and bankruptcy trustees — people without a 10-year investor mindset,” said Saylor.
These holders saw the recent rally as an exit opportunity, cashing out for liquidity, not conviction.
Bitcoin Dipped After ATH, But New Buyers Are Here
Bitcoin hit an all-time high of $109,000 on Jan. 20, just before President Trump’s inauguration. It later fell to $76,273 on April 9 before bouncing back.
As of May 8:
- BTC price is back above $100,000
- MicroStrategy’s Bitcoin holdings are 50.27% in profit, averaging $68,569 per coin
- Total BTC held: 555,450, worth ~$57.23 billion
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ETFs and Treasury Firms Fuel New Wave
Saylor emphasized a new investor class is entering via:
- Bitcoin ETFs, which saw over $564.7M inflows in 5 days
- Treasury adoption, with companies allocating BTC to balance sheets
These entities are more long-term aligned and financially resilient, supporting price stability and long-term upside.
US Government's Rapid Shift on Bitcoin Surprises Saylor
While Saylor wasn’t shocked that the U.S. government hasn’t yet bought Bitcoin directly, he didn’t expect their tone to turn so pro-crypto so fast.
Since Trump’s Executive Order on March 7 for a Strategic Bitcoin Reserve, government-held BTC has grown from confiscations and legal seizures.
“I didn’t expect the whole Cabinet to be so enthusiastic about Bitcoin,” Saylor remarked.
KXZ.News Commentary
Bitcoin’s path to $150K may not be a straight line, but the smart money is clearly rotating in. If ETF demand keeps up and sell pressure fades, the next leg could be explosive.
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