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MIAMI, FLORIDA - APRIL 7: Michael Saylor, Chairman & CEO, MicroStrategy, speaks during the Bitcoin ... More 2022 Conference at Miami Beach Convention Center on April 7, 2022 in Miami, Florida. The worlds largest bitcoin conference runs from April 6-9, expecting over 30,000 people in attendance and over 7 million live stream viewers worldwide.(Photo by Marco Bello/Getty Images)
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Michael Saylor is hands down one of the fiercest Bitcoin advocates on the planet. Earlier this year, the Strategy founder predicted Bitcoin could reach $13 million by 2045. Even his so-called “bear case” puts the price at $3 million.
That’s a far cry from where we are now. Although Bitcoin has taken big strides during this month’s rally, it’s still well below the all-time highs hit after President Trump’s inauguration — let alone Saylor’s long-term targets.
Saylor has a theory for what’s holding it back: a massive rotation among Bitcoin holders that’s weighing on price.
“I think we’re going through a rotation right now,” Saylor told Natalie Brunell on the Coin Stories podcast. “Lots of non-economically interested parties are rotating out of the asset, and a new cohort of investors is entering.”
That includes governments, lawyers, and bankruptcy trustees who inherited Bitcoin but never intended to keep it.
“They kind of had to hold it for a year or two as they worked through their process. And when they saw this massive market rally... they just thought, well, this is a good exit point to get liquidity,” Saylor said.
Why Bitcoin is ‘only’ at $100K
Bitcoin briefly topped $109,000 on Jan. 20 — just hours before Trump’s inauguration — before falling to $76,000 in April. It has since bounced back above $100,000, but Saylor says the price still doesn’t reflect strong ETF inflows, bullish signals from Washington, a wave of corporate adoption, and a major ideological shift on Wall Street.
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