Michael Saylor Says ‘AI Summer’ Is Draining Bitcoin Demand, Expects Capital To Rotate Back By Year-End As Frenzy Around OpenAI, SpaceX Fades

• Michael Saylor said an ongoing "AI summer" is diverting capital from Bitcoin into massive fundraising rounds by AI giants such as OpenAI, Anthropic, Google, Meta, and SpaceX.
• He expects the trend to reverse by year-end as AI deal lockups expire and investors rotate profits back into Bitcoin.
• He argued Bitcoin's path to much higher valuations depends on sustained inflows from credit markets, warning that adoption by major banks will be crucial for future growth.

As Wall Street pours billions into artificial intelligence, Strategy (MSTR) Executive Chairman Michael Saylor says Bitcoin is feeling the squeeze. He has a name for the force weighing on Bitcoin (BTC), an "AI summer," and a date for when he thinks it lifts.

Speaking with Natalie Brunell, Saylor explained that the wave of artificial intelligence (AI) megadeals was pulling capital out of Bitcoin, but predicted the money would rotate back by the end of the year.

Saylor pointed to SpaceX (SPCX), OpenAI (OPEAZZX), Anthropic (ANTHZZX), Google (GOOGL), and Meta (META), which he said are each working to raise around $500 billion. Wall Street is racing to market those deals, he said, and they are "sucking capital out of every other asset class," with 1% to 2% of the outflow coming from Bitcoin.

He cast the drag as temporary, a 12-to-24-week cycle. Once the deals close, early traders flip them, and lockups expire, and the investors who got rich will diversify back into Bitcoin, Saylor said. "Toward the end of the year, we should see a reversal trend," he said, adding that falling prices only make the asset more appealing to buyers.

Why Saylor Stays Bullish

Despite the slump, Saylor called 2026 "the most exciting year in the history of Bitcoin," citing the emergence of Bitcoin-backed credit and yield products. He argued that Bitcoin's next leg higher depends on fresh capital from credit markets, whether through digital credit issued by companies like Strategy or bank credit from firms such as JPMorgan (JPM), Morgan Stanley (MS), and Citigroup. If those banks stay out, he warned, "the coin stagnates."

Reaching what he called a "500x" move to $20 million a coin, Saylor said, would require that capital to keep flowing from the credit markets, one way or another.

Bitcoin’s price continued to trade at $66,343, down 0.1% during the past 24 hours. On Stocktwits, the retail sentiment around BTC remained in the ‘bullish’ zone, while chatter around it stayed in the ‘low’ levels over the past day.

A Rotation Others See Too

Galaxy (GLXY) CEO Mike Novogratz has made a similar diagnosis. He has said that crypto investors have been disappointed this year as Bitcoin lagged equities, with both retail and institutional attention shifting toward AI, data centers, and commodities. Novogratz, whose firm is itself pivoting toward AI data centers, has cast the shift as a deeper change in crypto's character, while Saylor treats the AI pull as a passing diversion.

The slump has also reignited the broader bull-versus-bear debate over Bitcoin. In a recent Fox Business clash, gold advocate Peter Schiff dismissed Bitcoin as a "digital nothing," while investor Anthony Pompliano defended it as the best-performing asset over the long run.

Read also: Exclusive: Sharplink CEO Says Ethereum's Quantum And Cultural Edge Over Bitcoin Is The Moat Rivals 'Cannot Fork'

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