Michael Saylor: $400 Billion Tech Giant IPOs Cause Short-Term Bitcoin Dip On June 5, 2026, Michael Saylor (@saylor) stated during an official TradePMR livestream that the massive fundraising efforts by tech giants like OpenAI, Google, and SpaceX—driven by the demand for AI development—have triggered a global capital rotation, with a total amount of approximately $400 billion. He believes that as Wall Street investment banks aggressively promote these epic IPOs, market participants are selling off stable assets, including Bitcoin, to raise cash for IPO subscriptions. This has created a significant capital siphoning effect, causing Bitcoin to drop from $82,000 to the $62,000–$63,000 range within 15 days. Source: TradePMR