Saylor Compares Bitcoin to Apple and Amazon's 'Wilderness' Years

Strategy, a company chaired by Michael Saylor, holds over $9 billion in unrealized losses tied to its Bitcoin holdings. The losses come as Bitcoin's price has fallen nearly 50% since its peak of over $126,000 in October last year.

In an interview with Natalie Brunell, Saylor compared the current state of Bitcoin to Apple and Amazon's prolonged recovery cycles. He noted that major technological innovations often go through long 'wilderness' periods.

Saylor stated that Apple took seven years to recover from its 2012 crash, while Amazon went through a similar period before experiencing significant gains. He added that Bitcoin is currently in its own 'wilderness' phase, lacking the endorsement of mainstream investors.

According to Saylor, it took Carl Icahn and Warren Buffett's endorsement for Apple's price-to-earnings ratio (P/E) to rise from 10 to 30 after the launch of the first iPhone in 2007. He suggested that a similar endorsement may be necessary for Bitcoin to gain widespread acceptance.