Michael Saylor: Enduring sharp drops is part of successful tech investing

Michael Saylor, founder of MicroStrategy (Nasdaq: MSTR), commented on Bitcoin's recent 45% plunge from its peak, stating that all successful technology investments must endure sharp corrections. Speaking on a recent podcast, Saylor said that Bitcoin must also go through a period of despair to succeed, CoinDesk reported. He argued that virtually no successful tech investment has avoided a 45% drop. Saylor noted that BTC has been in decline for 137 days since its high and that a recovery could take two, three, or even seven years. He compared the situation to Apple, which also fell 45% from its peak during the 2013 stock market crash. Saylor pointed out that even though the iPhone was already an essential item for over one billion people at the time, the market remained uncertain about Apple's value. He emphasized that it took seven years for Apple to fully recover its previous corporate valuation.