Source: Natalie BrunellSaylor said that many of these trustees do not have a “10-year investors mindset,” and as Bitcoin’s (BTC) price began to rally, they took advantage and “thought this is a good exit point to get liquidity.”“So I think people less committed to the long term have taken the opportunity to exit the market and a whole new class of investors are entering by way of ETFs and by way of Bitcoin treasury companies.”After Bitcoin reached its all-time high of $109,000 on Jan.20 just hours before US President Donald Trump’s presidential inauguration, it experienced a downtrend, falling as low as $76,273 on April 9, before starting to show signs of recovery.
Strategy founder Michael Saylor says Bitcoin hasn’t reached $150,000 yet because holders without a long-term outlook have been selling off while a new cohort of investors are beginning to enter the market.“I think we’re going through a rotation right now,” Saylor said on the Coin Stories podcast with Natalie Brunell on May 9.
The lack of “10-year investor mindset” led to Bitcoin sell-offSaylor said “lots of non-economically interested parties are rotating out of the asset.” However, at the same time, “a new cohort of investors are entering.” “A lot of Bitcoin, for whatever reason, was left in the hands of the governments and the hands of lawyers, and in the hands of bankruptcy trustees,” he added.
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Author / Journalist: Cointelegraph by Ciaran Lyons
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