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Bitcoin Drops, Michael Saylor Says Investor Capital Rotation Impacts AI Sector

Michael Saylor emphasizes that the recent decline in Bitcoin prices is not a sign of weakening fundamentals of the digital asset. Through his post on platform X on Thursday (6/4) local time, Saylor assesses that the massive sell-off is purely an institutional capital rotation being redirected to fund the artificial intelligence (AI) ecosystem.
According to Saylor's analysis, the global capital market is currently financing AI infrastructure development on a large scale, reaching approximately $400 billion over the past six months. This phenomenon has directly impacted outflows from Bitcoin ETFs, which have recorded withdrawals of around $4 billion since May 14, thereby putting pressure on BTC prices in the market.
Saylor's statement comes as Bitcoin was reported to have plummeted to a price level of $59,000, marking a decline of more than 14 percent in the past week. This decrease technically pushed Bitcoin into a bear market zone after dropping 22.7 percent from its four-week high, simultaneously erasing $600 billion in crypto market value.
On the other hand, market psychology has become increasingly pressured after Strategy, the world's largest corporate Bitcoin holder, was caught selling 32 BTC at the end of May to fund preferred dividend payments. Although the sale worth $2.5 million is very small compared to their total holdings of 843,706 BTC, this move became the company's first sale since late 2022, triggering bearish sentiment among investors.