Yesterday I was thinking about something Michael Saylor mentioned regarding Bitcoin, and I found it quite interesting. He's saying that Bitcoin is following the same pattern that the iPhone faced in its early years, you know? That period called the 'valley of despair.'

For those who don't remember, when the iPhone was launched, it wasn't exactly an instant acceptance. Some people doubted it, thought it was too expensive, questioned whether we really needed a smartphone like that. It's like when you're evaluating the price of a dairy cow — it seems expensive at first, but then you see the return it generates.

The question Saylor raises is this: Bitcoin is going through something similar now. Many people look at the price of a dairy cow compared to Bitcoin and think adoption isn't happening. But in reality, we're still at the beginning of this curve.

What’s cool about this perspective is that it doesn’t treat Bitcoin as something that will be stuck in this 'valley' forever. Just as the iPhone eventually moved out of this phase of disbelief and became part of billions of people's lives, Bitcoin will probably go through the same transition.

The price of a dairy cow today is one thing, but in a few years, we might see Bitcoin in a completely different light. It’s like that pattern we see in all major technological adoptions — it starts with skepticism, goes through this 'valley of despair,' and then explodes when people finally understand the value.

What intrigues me most is thinking about how many opportunities we miss because we’re too focused on the price of a dairy cow instead of seeing the bigger picture. Saylor is basically saying that those who understand this pattern and have patience could be in a very good position when this cycle shifts.