Saylor Blames $400B AI Spend, $4B ETF Outflows for Bitcoin Drop

Michael Saylor, executive chairman of Strategy (formerly MicroStrategy), attributed the recent bitcoin decline to large-scale AI infrastructure investment and spot‑ETF redemptions after the firm reported a small bitcoin sale.

Strategy disclosed in an early June filing that it sold 32 BTC between May 26 and May 31 for roughly $2.5 million to fund dividend payments tied to its STRC perpetual preferred stock. The company said the sale ended its uninterrupted standalone selling streak that had run since 2022.

The sale was small relative to Strategy’s holdings. The company reported 843,706 BTC on its balance sheet, acquired at an average cost near $75,699 per coin. The 32‑coin transaction represented about 0.0038% of those holdings.

On X, Saylor wrote that roughly $400 billion flowed into artificial intelligence infrastructure over the past six months and that U.S. spot bitcoin ETFs recorded about $4 billion in outflows since mid‑May. He posted: “Capital markets are funding the AI buildout at historic scale: ~$400B over 6 months. Bitcoin ETFs have seen ~$4B of outflows since May 14, pressuring BTC. Volatility creates opportunity.”

Fund‑flow trackers have recorded several large redemption days for spot bitcoin funds, including sessions with more than $500 million in net outflows from major providers. Analysts monitoring ETF flows say such movements can affect short‑term bitcoin prices given the scale of assets involved.

Bitcoin reached a low of $61,310 on June 4. By late morning U.S. trade it was trading between about $63,500 and $64,500. The asset is down 26.5% year‑to‑date, 11.8% over the past week and more than 20% over the last 30 days. It remains about 48%–49% below its October 2025 all‑time high just above $126,000.

Market participants offered differing views on the impact of Strategy’s disclosure. Some investors treated the sale as a sign the company’s buy‑and‑hold posture had changed, which coincided with increased bearish sentiment during a weak period. Peter Schiff wrote on X: “This isn’t volatility, it’s a collapse in price as investors dump Bitcoin to avoid larger losses or to seek out better investment opportunities.”

Strategy’s shares fell about 7% on June 3 and were up roughly 3% before mid‑afternoon trading on June 4. Traders and investors are monitoring ETF flows, corporate treasury disclosures and shifts in technology investment to assess near‑term pressure on bitcoin prices.