Michael Saylor: Bitcoin Investment Drawdown Can Be Analogous to Apple's Legendary Stock Price 'Despair Valley' Moment

BlockBeats News, February 24th, according to CoinDesk, Strategy founder Michael Saylor stated, "In fact, there is no successful tech investment that does not go through a 45% drawdown and that period of 'desolation.' Our drawdown has been going on for 137 days so far. But it may take two years, or it may take three years. If it takes seven years like Apple, then congratulations. Just like Apple."

Michael Saylor hopes that Bitcoin holders pay attention to Apple Inc. (AAPL), but not today's Apple, rather the Apple of 2013: when the stock price dropped 45% from its all-time high, the P/E ratio was below 10, and it was seen by the market as a hopeless 'cash cow.' Despite the iPhone becoming a necessity for over 1 billion people, the market still did not buy in. It took Apple a full seven years to completely recover its previous market value.