Michael Saylor: Bitcoin Is Building a Base as 'OG' Hodlers Exit and Big Money Preps

Bitcoin’s recent stretch of muted price action is a sign of strength, not weakness, according to Strategy (MSTR) Executive Chairman Michael Saylor. Speaking on an episode of Natalie Brunell’s "Coin Stories" podcast released Friday, Saylor argued that the market is in a consolidation phase as long-time holders sell portions of their stacks and institutions prepare for bigger allocations. “If you zoom out and look at the one-year chart, bitcoin is up 99%,” he said. “The volatility is coming out of the asset — that’s a really good sign.” Saylor described the current environment as one where early adopters who bought bitcoin at single-digit prices are selling modest amounts to fund real-world needs, such as housing or tuition. He likened it to employees of a high-growth startup liquidating stock options, not as a loss of faith but as a natural step toward maturity. That process, he said, is paving the way for corporations and large funds to enter once volatility falls. He dismissed concerns that bitcoin’s lack of cash flows makes it inferior to traditional investments, pointing out that many valuable…