Saylor Blames Short-term Holders for Bitcoin Not Reaching $150K

The Saylor Tracker data reveals that, currently, Strategy holds 555,450 Bitcoin, valued around $57.42 billion. The recent price push has taken the Bitcoin holdings of Strategy to skyrocket significantly above their average Bitcoin purchase price of $68,569. The founder of Strategy, Michael Saylor, on May 9 revealed that he believes that Bitcoin has not hit the $150,000 mark yet, as holders without a long-term perspective have been selling off. At the same time, there are many investors who are looking to enter the market. He further added that he thinks the market is going through a rotation right now. And a bunch of non-economically interested parties are rotating out of the asset. Meanwhile, many are setting foot. Saylor asserted that a lot of Bitcoin, for whatever reason, was left in the hands of governments, lawyers, and bankruptcy trustees. Also, many of the investors don’t come with a 10-year investment mindset. As the price of Bitcoin surges, they take advantage of that, thinking this is a good time to exit to have good liquidity. Bitcoin reached its all-time high of $109,000 on the day of Trump’s presidential inauguration, on January 20. Since then, it gradually fell to the $76,273 mark, witnessed on April 9, and again started recovering. The BTC Holding’s Track Two days ago, it hit $100,000, last witnessed on February 1. The recent price push has taken the Bitcoin holdings of Strategy to skyrocket significantly above their average Bitcoin purchase price of $68,569. Currently, Bitcoin is trading at The Saylor Tracker data reveals that, currently, Strategy holds 555,450 Bitcoin, whose value is estimated at around $57.42 billion. Saylor also mentioned that he is not surprised, as the US government has not bought Bitcoin for its Strategic Bitcoin Reserve, for which an executive order was signed by Trump on March 7. The reserve is holding BTC that was seized as part of criminal or civil asset forfeiture proceedings. He also mentioned that he was surprised that the US embraced Bitcoin as positively as it has in the past six months. And he didn’t expect the Cabinet members to be so enthusiastic.