Saylor Says AI Funding Rush, SpaceX IPO Are Diverting Capital, but Bitcoin’s Long-Term Outlook Stays Bright

Strategy Executive Chairman Michael Saylor said recent weakness in Bitcoin was driven in part by capital shifting toward artificial intelligence companies and blockbuster initial public offerings 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, he said, and investors are building cash positions to take part.

Wall Street investment banks are aggressively marketing deals tied to OpenAI, Anthropic, Google and SpaceX, according to Saylor. To free up hundreds of billions of dollars in cash, investors are selling credit products, corporate stocks and even Bitcoin, then moving that money into new opportunities.

He argued that this rotation of capital has been a key force behind recent market moves. In the same context, Bitcoin has faced downward pressure for about 50 days, he said.

Saylor said the trend could persist for some time. Unlike in the past, when even an $8 billion IPO was rare, this year will bring a series of outsized listings, he said. It will be a year of IPOs and share issuance on a scale he has never seen in his lifetime.

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

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