Bitcoin (BTC) Price Didn't Reach $150K Because Holders Were Selling, Says Michael Saylor

Michael Saylor, founder of Strategy, stated that the reason the Bitcoin price didn't reach $150,000 levels is that holders, even with a long-term outlook

Michael Saylor, founder of Strategy, explained in an interview on the Coin Stories podcast with Natalie Brunell why the Bitcoin price didn't reach the predicted levels of $150,000. According to Saylor, the reason is that holders, even with a long-term outlook, decided to sell off their BTC holdings at a point when new investors started making fresh entries.

Saylor's comments came as he discussed the changing landscape of Bitcoin investors. According to the billionaire, many of the trustees lacked a "long-term, 10-year investor mindset." As Bitcoin's price surged, they saw it as an opportunity to secure liquidity, viewing it as a favorable exit point.

"People who are less interested in the long-term goal have taken the exit opportunity, and a new class of investors is now joining the bandwagon through Bitcoin ETFs, etc.," Saylor added.

At the same time, Spot Bitcoin ETFs have seen strong inflows, especially BlackRock iShares Bitcoin Trust (IBIT). Over the last 19 consecutive trading sessions, IBIT has seen net inflows to the tune of $5 billion, taking total Bitcoin holdings to 625,000 BTC.

🚨 Blackrock Buys 3450 Bitcoin

Now hold 625,000 Bitcoin 🔥 pic.twitter.com/Hj7DKnXI5o

— Thomas Fahrer (@thomas_fahrer) May 10, 2025

The persistent buying pressure from BlackRock has been crucial in propelling the Bitcoin price to new highs. Notably, IBIT has seen more significant inflows than Gold ETFs (GLD) since its launch.

During his recent podcast interview, Michael Saylor expressed no surprise that the U.S. government has yet to purchase Bitcoin for its Strategic Bitcoin Reserve, established under an executive order signed by Trump on March 7. Currently, the BTC reserves that the U.S. government holds are entirely seized through criminal or civil asset forfeiture proceedings. On the other hand, several U.S. states like Arizona, Texas, etc., have passed crucial bills to make Bitcoin part of the state treasury.

However, Saylor noted that he did not expect the government's stance on Bitcoin to shift so favorably so soon after Trump's inauguration. "I was surprised that the U.S. embraced Bitcoin as radically as it has over the last six months. I think I didn't expect all the Cabinet members to be so enthusiastic," Saylor said.

The Bitcoin price is currently showing significant strength with 8% weekly gains and moving past $ 103K. Market analysts are hopeful that BTC could potentially hit fresh all-time highs above $109K amid improving macroeconomic conditions and on-chain metrics.