Bitcoin (BTC) price returned above the $100,000 threshold this week

Bitcoin (BTC) price returned above the $100,000 threshold this week, reaching its highest levels since January as prominent investors continue advocating for cryptocurrency adoption

Bitcoin (BTC) price returned above the $100,000 threshold this week, reaching its highest levels since January as prominent investors continue advocating for cryptocurrency adoption amid changing market dynamics.

The world’s largest cryptocurrency changed hands at $103,608 on Saturday, gaining 0.6% for the day, following Thursday’s significant 6% surge.

This price recovery comes after Bitcoin fell to as low as $76,273 in early April, highlighting the substantial rebound in recent weeks.

Why Is Bitcoin Price Going Up? Michael Saylor’s Market Rotation and Investor Behavior

MicroStrategy (NASDAQ:MSTR) founder Michael Saylor attributes Bitcoin’s inability to reach $150,000 yet to what he describes as a market rotation process currently underway.

“A lot of non-economically interested parties are rotating out of the asset," Saylor said during an appearance on the Coin Stories podcast with Natalie Brunell. "At the same time, a new cohort of investors are entering."

Saylor highlighted Bitcoin holdings that ended up in the hands of government entities, lawyers, and bankruptcy trustees who lack a long-term investment perspective. "Many of these trustees do not have a 10-year investors mindset," he explained, noting they viewed the recent price rally as "a good exit point to get liquidity."

🎯NEW: Michael Saylor says, "I could tell you to put 5% of your portfolio in [#Bitcoin] but smarter would be to put 150% of your portfolio in it." 👀pic.twitter.com/FgwOmKDL9E— Blockware (@BlockwareHQ) May 12, 2024

The tech executive believes this selling pressure from short-term holders has temporarily capped Bitcoin’s price potential, even as institutional adoption through ETFs continues to grow. Spot Bitcoin ETFs posted $564.7 million in inflows over the past five trading days, according to data from Farside.

Corporate Treasury Strategy Gains Momentum

MicroStrategy has emerged as one of Bitcoin’s most prominent corporate backers, with the firm currently holding 555,450 Bitcoin valued at approximately $57.23 billion. The company's holdings now sit 50.27% above their average purchase price of $68,569.

Saylor expressed surprise at the rapidly evolving government stance toward cryptocurrency following President Donald Trump’s inauguration earlier this year. "I was surprised that the U.S. embraced Bitcoin Bitcoin while some people may still wonder what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.

No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.

In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.

One could now argue that read more ,” Saylor stated.

The Trump administration established a Strategic Bitcoin Reserve through an executive order signed on March 7, designed to hold Bitcoin forfeited through criminal or civil asset proceedings.

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Robert Kiyosaki And Alternative to "Fake Money"

Meanwhile, "Rich Dad Poor Dad" author Robert Kiyosaki continues his campaign against fiat currencies, urging followers to embrace Bitcoin, gold, and silver as protection against monetary debasement.

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