Bitcoin careened to $61,400 overnight before recovering to $62,400, down 7% over the past 24 hours. Michael Saylor, Strategy Executive Chairman, attributed the decline to capital rotation toward artificial intelligence funding and persistent Bitcoin ETF outflows.
Saylor posted on X that capital markets are funding AI buildout at historic scale. “Capital markets are funding the AI buildout at historic scale: ~$400B over 6 months,” he wrote. Bitcoin ETFs have shed roughly $4B since May 14, according to Saylor, adding pressure to spot prices.
Saylor framed the selloff as a temporary reallocation rather than a fundamental deterioration of Bitcoin’s value. “This is a capital rotation, not a Bitcoin impairment. Volatility creates opportunity,” he said.
Strategy shares fell 1.8% in premarket trading. The company has sold some of its bitcoin holdings in recent weeks, contributing to broader crypto weakness.
