BlockBeats News, February 24th. According to CoinDesk, Strategy founder Michael Saylor stated, “In fact, no successful tech investment has avoided a 45% drawdown and that period of ‘desolation.’ Our drawdown has lasted 137 days so far. But it may take two years, or maybe three. If it takes seven years like Apple, then congratulations. Just like Apple.”
Michael Saylor hopes Bitcoin holders pay attention to Apple Inc. (AAPL), not today’s Apple, but 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 a billion people, the market remained unconvinced. Apple eventually fully recovered its previous market value after seven years.
