Bitcoin's 'Wilderness' Period: Saylor Compares BTC to Apple and Amazon

Michael Saylor, Executive Chairman of Strategy (MSTR), compared Bitcoin's current downturn to Apple and Amazon's prolonged recovery cycles in a recent interview. He stated that major technological innovations often go through long 'wilderness' periods, citing Apple's seven-year recovery from its 2012 crash.

Saylor noted that Apple was undervalued for over a decade before receiving the endorsement of Carl Icahn and Warren Buffett, leading to a significant increase in its price-to-earnings ratio. He believes Bitcoin is currently in a similar 'wilderness' phase, where it has not yet received mainstream investor backing.

Saylor also pointed out that Amazon went through a seven-year trial-by-fire before experiencing major gains. He warned that at the point when a prominent figure like Buffet or Icahn endorses Bitcoin, it may be too late for traders seeking 10x or 50x gains from its volatility.