bitcoin It has plummeted more than 14% in one week and 22.7% in four weeks. Chief Strategy Officer Michael Saylor has a simple explanation for the decline: It’s capital turnover, not deterioration.
In a post on
In essence, he argued that institutions are taking money out of bitcoin and deploying it into AI, leading to the weakness of the leading cryptocurrency. This is important because churn implies temporary weakness, driven by capital chasing a hot topic before it finally finds its way back.
“Volatility creates opportunities,” Saylor said, a typically bullish approach from the most prominent corporate bitcoin holder on the planet.
Saylor’s strategy recently sold 32 BTC, a move that analysts say added to the bearish sentiment in the market, deepening the price sell-off. The publicly traded company still holds 843,706 BTC.
While some analysts have pointed to the rise of AI as a headwind for bitcoin, most bears have reached a darker conclusion from the recent sell-off: that cryptocurrencies are simply broken.
“Bitcoin looks broken right now. Even Saylor is selling off now,” pseudonymous trader QE Infinity said on X.
His case likely rests on a confluence of worrying signals: Saylor’s surprise sale of 32 BTC, weeks of strong ETF outflows, and the surprising fact that nearly every major asset class, from stocks to commodities, is trading at or near record levels while bitcoin languishes.
