Bitcoin may be soaring, but according to MicroStrategy founder Michael Saylor, there’s one big reason it hasn’t smashed through the $150,000 mark just yet — and it has nothing to do with the tech.
On a recent episode of the Coin Stories podcast with Natalie Brunell, Saylor explained that Bitcoin is in the middle of a major investor reshuffle. Those who were never truly in it for the long haul? They're cashing out. And those with serious long-term vision? They’re just stepping in.
> “We’re seeing a rotation. People without a 10-year mindset are leaving, and a new wave of investors is arriving,” Saylor said.
He pointed out that a lot of Bitcoin has been held by governments, lawyers, and bankruptcy trustees — people who saw the recent price rally as a prime time to offload and grab some liquidity. But that’s not necessarily bad news.
> “Less committed holders are exiting, making room for a whole new class of investors — think ETFs and Bitcoin treasury companies.”
Bitcoin skyrocketed to an all-time high of $109K on January 20, just before Donald Trump’s presidential inauguration. It later dipped to $76K in April but has since bounced back, recently reclaiming the $100K mark as of May 8.
That rebound has helped push MicroStrategy’s Bitcoin stash over 50% above their average purchase price of $68,569 — with 555,450 BTC now worth more than $57 billion, according to Saylor Tracker.
US Government's Changing Tune on Bitcoin
Interestingly, Saylor noted a surprising shift in how the US government is approaching Bitcoin. Trump’s executive order in March to establish a Strategic Bitcoin Reserve — using coins seized in legal actions — has set the tone.
> “I didn’t expect such a positive attitude so soon. The U.S. has embraced Bitcoin way faster and harder than I thought.”
With spot Bitcoin ETFs seeing $564.7 million in inflows over just five days, the message is clear: Bitcoin isn’t just bouncing back — it’s evolving.