Strategy founder Michael Saylor said that Bitcoin is “going through a rotation” on a May 10 podcast where a “new cohort of investors are entering” the market.
Michael Saylor, founder of Strategy, attributes Bitcoin's failure to reach $150,000 to short-term holders selling off while new investors enter the market. He notes a lack of a "10-year investor mindset" among many sellers, including government and legal entities, who have liquidated their holdings as prices rose. Bitcoin's price peaked at $109,000 on January 20 but fell to $76,273 by April 9 before recovering to over $100,000 on May 8. Strategy's Bitcoin holdings are now valued at approximately $57.23 billion, with a 50.27% increase above their average purchase price of $68,569. Saylor expresses surprise at the US government's rapid embrace of Bitcoin following Trump's inauguration and the significant inflows into spot Bitcoin ETFs, totaling $564.7 million over five days.
