Michael Saylor: "The lack of a complete and unrehypothecated credit system" is the culprit behind suppressing BTC prices. The compliance progress of the banking system is slower than short-term investors' expectations. Meanwhile, a large amount of Bitcoin is still held by retail investors or offshore funds, lacking mature collateralization and monetization channels, creating significant selling pressure. Saylor believes the effect is two-way, and prices will rise faster in the future. For now, just wait.