Bitcoin yet to hit $150K because outsiders are ghosting — Michael Saylor

Michael Saylor, founder of Strategy, believes that Bitcoin has not yet reached $150,000 because holders without a long-term outlook have been selling off, while a new cohort of investors are entering the market. He thinks there is a rotation happening, where non-economically interested parties are rotating out of the asset, while a new class of investors are entering through ETFs and Bitcoin treasury companies. Many of these investors do not have a 10-year mindset and took advantage of the price rally to exit the market. As a result, Bitcoin was left in the hands of governments, lawyers, and bankruptcy trustees who do not have a long-term investor mindset. Saylor is surprised by the US government's shift in sentiment towards Bitcoin, with Cabinet members being more enthusiastic than he expected. Despite this, he is not surprised that the US government has not yet bought Bitcoin for its Strategic Bitcoin Reserve. Spot Bitcoin ETFs have seen inflows of $564.7 million over the past five trading days. Strategy's Bitcoin holdings are now 50.27% above their average purchase price, with the firm holding 555,450 Bitcoin valued at approximately $57.23 billion. Saylor believes that a new cohort of investors are entering the market, which could drive the price of Bitcoin up. Overall, Saylor thinks that the US has embraced Bitcoin more radically than he anticipated over the last six months.