Michael Saylor: Bitcoin Fails to Reach $150,000 Because Short-Term Investors Are Leaving the Market When the Price Rises

Michael Saylor, chairperson of the board of directors of Strategy (formerly MicroStrategy), said in the "Coin Stories" podcast that Bitcoin has not yet reached $150,000 because holders who lack a long-term investment mindset chose to leave the market when the price of Bitcoin rose, and a new group of investors is entering the market.
He pointed out that many bitcoins had been in the hands of governments, lawyers and bankruptcy trustees who lacked a "ten-year investor mentality" and opted to cash out when the price rallied. Mr. Thaler argued that those less committed to long-term investments had seized the opportunity to exit the market, while new investors entered through ETFs and the Bitcoin Treasury Corporation, among other means.