Bitcoin's Drawdown Seen as Normal Part of Growth Process by Strategy Founder

Bitcoin's recent drawdown has sparked concerns among investors, but Michael Saylor, founder of Strategy, believes it is a normal part of the growth process of transformative technology. He compares it to Apple's multi-year recovery cycle following a significant drop in 2012-2013.

Saylor argues that institutional acceptance of Bitcoin lags behind conviction among early believers, and that banks may need four to six years to fully custody, lend against, and integrate Bitcoin into mainstream credit systems. He emphasizes the importance of traditional bank lending and rehypothecation in shadow markets in holding back Bitcoin's price.

Saylor also addresses concerns about quantum computing, stating that the consensus among cybersecurity experts is that any material quantum threat remains more than a decade away. If such a risk emerges, he predicts that global systems, including Bitcoin, would adopt post-quantum cryptography upgrades.