MicroStrategy CEO Michael Saylor Explains Why Bitcoin Hasn't Reached 150,000 Dollars Yet! - Coin Bulletin

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Michael Saylor stated that Bitcoin not yet reaching the 150,000 dollar level is related to investors without a long-term perspective selling off and new investors entering the market.

Saylor stated in a Coin Stories podcast on May 9, "We are currently going through a rotation process," noting that many investors with no economic interest have exited Bitcoin and a new group of investors has begun to enter the market. Saylor added, "A lot of Bitcoin was in the hands of governments, lawyers, and bankruptcy managers in some way." He pointed out that most of these individuals do not have a "10-year investor mentality," and expressed that when Bitcoin prices started to rise, these individuals opted to sell to provide liquidity.

Saylor said, "In the short term, those holding Bitcoin have started to exit the market, and a completely new class of investors has entered through ETFs and Bitcoin treasury companies". Bitcoin experienced a decline after reaching its historic peak of $109,000 on January 20, falling to $76,273 on April 9. However, on May 8, Bitcoin surpassed the $100,000 level for the first time since February. This price increase led Strategy company to increase its Bitcoin holdings by 50.27% from an average purchase price of $68,569, reaching approximately $57.23 billion worth of 555,450 Bitcoin.

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On the other hand, in response to a question about whether the Bitcoin will be purchased by the US government, Saylor stated that he is not surprised the government has not yet made any Bitcoin purchases following the Bitcoin Strategic Reserve decision signed by Trump in March. However, Saylor expressed that he believes the government's approach to Bitcoin will not change quickly with Trump's presidency.