邁克爾·塞勒（Michael Saylor）解釋了為什麼比特幣的價格停滯不前

Michael Saylor在接受MicroStrategy創始人Natalie Brunell的播客採訪中，對2025年5月9日的比特幣價格趨勢發表了評論。

In a recent interview on the Coin Stories podcast with Natalie Brunell, the founder of FinTech Mogul, Michael Saylor, offered interesting commentary on Bitcoin’s price trends.

金融科技大亨邁克爾·塞勒（Michael Saylor）的創始人娜塔莉·布魯內爾（Natalie Brunell）最近接受了有關硬幣故事播客的採訪，對比特幣的價格趨勢發表了有趣的評論。

As the price of Bitcoin (BTC) failed to reach $150,000 as quickly as some had anticipated, Saylor attributed this to investors selling too quickly.

由於比特幣（BTC）的價格未能像某些人預期的那樣迅速達到150,000美元，因此Saylor將其歸因於賣得太快的投資者。

“There are no long-term investors who quickly dumped their Bitcoin during the rally,” explained Saylor. Rather, the rapid increase in the price of Bitcoin created situations that caused these short-term investors to quickly liquidate their positions.

Saylor解釋說：“沒有長期投資者在集會期間迅速拋棄了比特幣。”相反，比特幣價格的迅速上漲造成了使這些短期投資者迅速清算其頭寸的情況。

Discussing the rapid selling behavior of short-term investors, Saylor observed that they sold Bitcoin fast to access more liquid funds. This selling pressure, in turn, limited Bitcoin’s ascent towards greater values.

在討論短期投資者的快速銷售行為時，Saylor觀察到他們快速銷售比特幣以獲取更多的流動資金。反過來，這種銷售壓力限制了比特幣對更大價值的上升。

Despite the selling, Saylor believes that there is a bright future for Bitcoin. He added that there has been a new wave of investors, which is a sign that prices will increase in the near future.

儘管有銷售，Saylor認為比特幣有光明的未來。他補充說，已經有一波新的投資者，這表明價格將在不久的將來上漲。

"We're seeing a real changing of the guard in the market," said Saylor.

塞勒說：“我們看到了市場上警衛的真正改變。”

As short-term investors, such as government entities, lawyers, and bankruptcy trustees, who have been the main holders of a significant amount of all the Bitcoin, are exiting the market, there is a new wave of investors, which includes institutions like treasury companies and exchange-traded funds (ETFs), entering the market.

作為短期投資者，例如政府實體，律師和破產受託人，他們一直是所有比特幣的主要持有人，他們正在退出市場，因此有新的投資者浪潮，其中包括財政公司和交易所貿易資金（ETF）等機構，並進入市場。

These government entities, lawyers, and bankruptcy trustees have been some of the main holders of a significant amount of all the Bitcoin, according to Saylor.

塞勒說，這些政府實體，律師和破產受託人一直是所有比特幣的主要持有人。

Saylor says that these groups tend to hold Bitcoin for shorter periods and are more willing to liquidate when prices increase.

塞勒說，這些群體傾向於較短的時間內持有比特幣，並且在價格上漲時更願意清算。

This dynamic of investor participation has developed the market in a new way.

這種投資者參與的動態以新的方式發展了市場。

The influx of new investors might help to stabilize Bitcoin’s price in the future, but the current selling has kept it below his intended level, according to Saylor.

塞勒說，新投資者的湧入可能有助於將來穩定比特幣的價格，但目前的銷售使其低於其預期水平。

In a separate interview, released by Brunell on 8th May 2025, Saylor shared his potential price target for Bitcoin of $13 million in the long run.

在2025年5月8日，布魯內爾（Brunell）在另一次採訪中，塞勒（Saylor）從長遠來看，對比特幣的潛在價格目標分別為1300萬美元。

According to Saylor, the value of Bitcoin is set to skyrocket once more companies adopt it into their treasury reserves. However, macro pressures like tariffs are one of the reasons why Bitcoin is not progressing as fast as it should.

根據賽勒（Saylor）的說法，比特幣的價值將越來越多地將其採用到財政部儲備中。但是，諸如關稅之類的宏觀壓力是比特幣沒有盡快發展的原因之一。

According to Saylor, such economic pressures had planted seeds of uncertainty across financial markets, leaving investors less sure about the future of cryptocurrencies.

根據塞勒（Saylor）的說法，這種經濟壓力已經在金融市場上種植了不確定性的種子，使投資者不太確定加密貨幣的未來。

During the podcast, Saylor discussed in detail the increased corporate adoption of Bitcoin for treasury use. He highlighted MicroStrategy’s strategy, which had the company at the leading edge of this trend by storing massive amounts of Bitcoin for its treasury.

在播客期間，Saylor詳細討論了比特幣用於國庫使用的公司採用的增加。他強調了MicroStrategy的戰略，該戰略通過為其財政部存儲大量比特幣，使該公司處於這一趨勢的領先地位。

According to Bitcoins offer a good security option for organizations that are prone to capital erosion. Thus, Bitcoin can be used by companies to offset risks associated with inflation and weakening of currencies through strengthening their balance sheets.

根據比特幣，比特幣為容易發生資本侵蝕的組織提供了一個很好的安全選擇。因此，公司可以使用比特幣來抵消與通貨膨脹和貨幣削弱貨幣的風險，從而通過加強貨幣表格來抵消風險。

Saylor also brought up BitBonds as a potential way to bring Bitcoin into the mainstream of finance. He described Bitcoin as “the sucrose of finance,” which highlighted its ability to energize and change the financial world.

Saylor還提出了BitBonds，作為將比特幣帶入金融主流的潛在方法。他將比特幣描述為“金融的蔗糖”，該比特幣強調了其充滿活力和改變金融界的能力。

Saylor pointed out during the conversation that the company’s achievements have received an uplift in view of the investment made in Bitcoin. Also, Saylor spoke about Bitcoin’s place in providing stability during times of market volatility.

塞勒在談話中指出，鑑於比特幣的投資，公司的成就得到了提升。另外，塞勒談到了比特幣在市場波動時提供穩定性的位置。

In the midst of increasing interest in U.S. Bitcoin adoption, Saylor’s ideas take on an even more pronounced meaning. He observed that more and more companies are taking Bitcoin into account as a treasury asset, and the tendency will only grow in the future.

在對美國比特幣採用的興趣越來越多的過程中，塞勒的想法具有更明顯的含義。他觀察到，越來越多的公司將比特幣視為財政資產，而將來的趨勢只會在未來增長。