$BTC - The growth of Bitcoin may stop at $150k, here’s why – Michael Saylor.

Bitcoin [BTC] has once again regained the spotlight by crossing the long-awaited threshold of $100,000, indicating a potential shift in market sentiment after enduring a prolonged bearish stretch.

This resurgence seems more stable than the fleeting peak observed during Donald Trump's presidential victory, when BTC momentarily soared to $109k before falling amid greater economic uncertainty.

Now holding steady above $103k, with a modest gain of 0.57% in the last 24 hours according to COINMARKETCAP, Bitcoin appears to be building a stronger base.

Saylor on bitcoin

However, Microstrategy founder Michael Saylor believes that despite the rise, it may take time for BTC to reach the $150K mark.

He thinks this could stem from short-term holders exiting the market, even as a new wave of long-term investors begins to take positions, setting the stage for a more sustainable manifestation ahead.

Commenting on the same during the Coin Stories podcast with Natalie Brunell on May 9, Saylor noted,

"I think we are going through a rotation right now where you know a lot of economically uninterested parties are rotating out of the asset, and then a new cohort of investors is coming in."

In his conversation, Saylor pointed out that a significant portion of Bitcoin has been held by non-traditional holders like government entities, legal custodians, and bankruptcy trustees.

This was especially true after major collapses like FTX.

These entities, lacking a long-term investment perspective, held onto the assets only as part of procedural requirements.

With the recent bullish momentum in the crypto market, many of these short-term custodians saw the manifestation as a primary exit point to secure liquidity.