Saylor Says AI, SpaceX Fundraising Pulled Capital Away, but Bitcoin Outlook Stays Bright

Michael Saylor, executive chairman of Strategy, said Bitcoin's recent price correction was driven by capital shifting into artificial intelligence companies and potential mega-listings such as SpaceX.

In a video released on June 6, Saylor said markets are undergoing a broad capital reallocation. OpenAI, Anthropic, Google and SpaceX are raising hundreds of billions of dollars, and investors are building cash positions to take part.

Wall Street investment banks are aggressively marketing deals tied to OpenAI, Anthropic, Google and SpaceX, he said. To fund those opportunities, investors are selling credit products, corporate stocks and even Bitcoin to raise hundreds of billions of dollars in cash.

That migration of capital has been a key force behind recent market moves, Saylor said. Bitcoin has also been under downward pressure for about 50 days for the same reason.

He said the trend could continue for some time. Unlike in the past, when even an $8 billion IPO was rare, this year is set to bring a succession of mega-listings. It could become a year of IPOs and equity issuance on a scale he has never seen before.

Still, Saylor said Bitcoin's long-term investment appeal remains intact. The buildout of AI infrastructure is absorbing capital on a historic scale and creating temporary pressure across global markets. But rather than weakening Bitcoin, that dynamic reinforces the need for scarce, liquid digital assets.

Bitcoin remains the best asset over the long term, he added.