Saylor Defends Bitcoin Price Drop as Capital Rotation to Artificial Intelligence

Michael Saylor, CEO of MicroStrategy, has come forward to defend Bitcoin's recent price drop. According to him, the decline in the cryptocurrency's value can be attributed to a rotation of capital towards artificial intelligence rather than any weakness in Bitcoin itself.

In an interview with Detik Finance, Saylor pointed out that around $4 billion has been withdrawn from Bitcoin ETFs since May 14, and the market value of Bitcoin is currently hovering around $64,000. This, he emphasized, is a temporary repositioning of capital and not a structural problem.

Saylor also noted that enormous sums are being absorbed by capital markets to fund AI infrastructure, estimated at around $400 billion over six months across data centers and chips. Analysts have pegged 2026 capital budgets for the largest US tech firms above $600 billion, providing some footing for his argument.