The ghost of the iPhone: Why Michael Saylor thinks bitcoin is mirroring Apple’s legendary ‘valley of despair’

Michael Saylor, founder of MicroStrategy, urged Bitcoin holders to view the current 45% drawdown as analogous to Apple's 2013 slump, when its stock fell significantly despite the indispensable nature of the iPhone. Saylor argued that enduring such a "valley of despair" correction is characteristic of every successful technology investment, noting that Bitcoin's current downturn has lasted 137 days, but could take years, similar to Apple's seven-year recovery. He also attributed the relatively muted current volatility, compared to historical drawdowns, to structural changes like the migration of derivatives trading to regulated U.S. markets. Furthermore, Saylor dismissed concerns over quantum computing as the latest form of FUD (fear, uncertainty, and doubt), stating it is not a near-term threat and that necessary cryptographic upgrades will occur globally before it poses a practical risk.

(Source：CoinDesk)