Michael Saylor, the founder of the strategy, states that Bitcoin has not hit $150,000 yet as those who do not have a long-term perspective have been unloading their holdings, whereas a fresh group of investors is starting to join the market.
“I believe we’re currently experiencing a rotation,” said Saylor.
said
On the Coin Stories podcast hosted by Natalie Brunell on May 9.
The absence of a “10-year investment mentality” resulted in theBitcoin selloff.
Saylor stated, “Many individuals who aren’t motivated by economic gain are exiting this particular investment.” Concurrently, he noted, “A fresh group of investors is stepping in.”
“A significant amount of Bitcoin ended up with governments, lawyers, and bankruptcy trustees for some reason,” he mentioned additionally.
Saylor mentioned that numerous trustees lack a “10-year investor mentality,” particularly concerning Bitcoin’s status.
BTC
When prices started to recover, they saw an opportunity and believed “this is a suitable moment to secure some liquidity.”
I believe individuals who are not as dedicated to the long-term prospects have seized this chance to leave the market, while an entirely new group of investors is now entering through ETFs and via Bitcoin treasury firms.
After Bitcoin reached
reaching its peak value of $109,000
On January 20, mere hours prior to U.S. President Donald Trump’s inauguration, it underwent a downturn, plummeting to a low of $76,273 on April 9, after which it began to exhibit indications of rebounding.
On May 8, Bitcoin
recouped $100,000 for the first time
Since February 1st, following Trump’s proposal for new tariffs, the recent spike in prices has caused Strategy’s Bitcoin holdings to be 50.27% higher than their mean acquisition cost of $68,569 per Bitcoin. As of publishing, the company owns 555,450 Bitcoins worth roughly $57.23 billion.
according
to Saylor Tracker data.
Saylor is astonished by the change in U.S. government attitude.
Over the last five trading sessions, Spot Bitcoin ETFs saw inflows of $564.7 million.
according
to Farside data.
Meanwhile, Saylor mentioned he isn’t
surprised the US government
has not yet purchased Bitcoin for its Strategic Bitcoin Reserve, which Trump
signed an executive order
On March 7, the reserve will hold Bitcoin that was confiscated during criminal or civil asset forfeiture processes.
However, Saylor did not expect their position to rapidly shift in such a positive direction after Trump took office.
Related:
Aim to turn into a Bitcoin treasury firm
“I was astonished by how extensively the U.S. has adopted Bitcoin in just the past six months. I hadn’t anticipated that all of the cabinet members would be so excited about it,” he stated.
Magazine:
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