MicroStrategy to Host Bitcoin Conference to Boost Institutional Adoption
MicroStrategy’s Bitcoin evangelism is about to take another turn as the company now looks to be the top recruiter of corporations into the crypto market. MicroStrategy’s CEO Michael Saylor revealed the details of the conference on Twitter.
Bringing as Many Into the Fold
Titled “Bitcoin for Corporations,” MicroStrategy’s free, online course will be held between February 3 and 4. As Saylor explained, the company hopes to teach others how to apply Bitcoin to ensure company growth and boost shareholder value.
On Feb 3 & 4, @MicroStrategy will host Bitcoin for Corporations. Join our officers, industry luminaries & strategic vendors for a free, online, accelerated course in #Bitcoin strategy & tactics to grow your company & create shareholder value.https://t.co/dHYPyWGxbo
— Michael Saylor (@michael_saylor) January 12, 2021
The event’s page showed that the first day would focus primarily on how companies can move their asset base to Bitcoin.
The company notably invested about $1 billion in the leading cryptocurrency last year and has reaped some significant benefit from the decision.
At this exposition, presenters include Saylor and Ross Stevens, the founder, and CEO of crypto investment firm Stoneridge Asset Management.
Saylor and MicroStrategy CFO Phone Le will also headline a session.
Both men would shed light on how corporations can seamlessly integrate Bitcoin into their treasury reserves. Other topics on the agenda include accounting, tax and audit, and regulatory considerations viz a viz Bitcoin.
MicroStrategy’s partners in the initiative include top crypto firms like Coinbase, Grayscale Investments, the Gemini Foundation, Binance, and Galaxy Digital.
Business Intelligence Solutions Firm Moonlights as Bitcoin Evangelists
MicroStrategy has become the poster child for institutional crypto adoption.
The company made a splash in August, announcing an initial $250 million buy-in with Bitcoin trading at about $11,000 at the time. Soon after, it re-upped and added $175 million to its Bitcoin haul as it solidified its mission to move to the “Bitcoin standard.”
In the months since then, the Virginia-based company has continued to make considerable Bitcoin plays.
As of last month, Saylor confirmed that the firm now had 70,470 BTC – making it the fifth-largest holder of Bitcoin globally. The firm made these purchases at an average Bitcoin price of $15,964. With the leading cryptocurrency gearing up to break the $40,000 barrier once more, MicroStrategy’s Bitcoin stash is easily worth $2.79 billion.
Still, the company isn’t content with just being one of the largest Bitcoin whales. Saylor, in particular, has been forceful in his push to get other firms to adopt Bitcoin. Last month, he had a famous interaction with Tesla CEO – and the world’s second-richest man – Elon Musk, encouraging him to make a similar move.
“If you want to do your shareholders a $100 billion favor, convert the $TSLA balance
sheet from USD to #BTC. Other firms on the S&P 500 would follow your lead & in time it would grow to become a $1 trillion favor,” Saylor said.
It’s unclear whether men like Musk will be listening in on February 3 and 4. However, MicroStrategy appears focused on driving more institutional crypto adoption.
