Microstrategy’s Michael Saylor has an interesting take on why Bitcoin, the most valued cryptocurrency by market cap, has yet to hit $150,000, a highly anticipated price mark amongst Bitcoin investors and holders alike.
Saylor observed a notable change in the Bitcoin market, particularly among key holders. The Bitcoin proponent maintains that a fundamental shift in investor behavior has occurred. According to Saylor, the new development ties back to a primary difference in the type of holders entering and exiting the Bitcoin market.
Older investors appear to be exiting the market, thus paving the way for new players. He asserted that short-term holders are making their way out. In contrast, long-term institutional players are being ushered into the Bitcoin market.
In a recent interview with Coin Stories, a crypto-centered podcast, Saylor is quoted as saying the following;
“I think we’re going through a rotation right now…. So I think people less committed to the long term have taken the opportunity to exit the market, and a whole new class of investors are entering by way of ETFs and Bitcoin treasury companies.”
Bankruptcy trustees, lawyers, and governments seem to have snagged a handful of Bitcoin tokens for themselves, he observed, further adding that these demographics of holders are not long-term players.
Saylor added that, as a result, the recent surge in the asset’s price value presented a liquidation opportunity and a perfect exit for these participants.
Michael Saylor also expressed surprise at the positive shift in the government’s attitude towards Bitcoin, as he noticed a rise in enthusiasm among Cabinet members.
Bitcoin crossed the $100,000 mark on May 8th, 2025, for the first time since February. While the market remains optimistic, Bitcoin must surpass many technical and fundamental barriers to sustain its current momentum. At report time, Bitcoin is valued at $103,134.
