Thousands of Executives to Attend MicroStrategy’s Bitcoin Conference – Trustnodes

Thousands of Executives to Attend MicroStrategy’s Bitcoin Conference

1

Michael Saylor of MicroStrategy

MicroStrategy is to open source their bitcoin playbook in one of the most important conference in bitcoin’s history to be held next month on February 3rd at 12:00 to 4:45 pm EST with Michael Saylor, MicroStrategy’s CEO, stating:

“We’re going to have thousands of executives, officers and directors and advisors of corporations coming together in the first week of February and they all want to figure out how to plug bitcoin into their balance sheet, their PnL.

We’re going to publish our playbook. All of our accounting guidance, our legal guidance, all the work we did over the course of months in order to get ready to do this as a publicly traded company.

We’re going to open source it, make it available to everybody with the thought of saving each of them millions of dollars and weeks if not months in order to make this an easier transition.”

Making this a unique and very focused conference broken into five sessions with the first two led by Saylor on “a review of Bitcoin as a treasury reserve asset & various macroeconomic factors driving its adoption by corporations & institutional investors [and] a review of ways in which corporations can integrate with the Bitcoin monetary network & the advantages of different strategies.”

Their CFO will then look at “key financial & operational considerations for corporations integrating Bitcoin into a treasury reserve strategy.”

While their General Counsel and a number of legal advisors will look at “key legal & regulatory considerations for corporations integrating Bitcoin into a treasury reserve strategy.”

With two partners from Deloitte finishing off on “key accounting, tax, & audit considerations for corporations integrating Bitcoin into a treasury reserve strategy.”

A Turning Point?

MicroStrategy has opened an ongoing debate in corporate treasury halls and on the media on whether reserves should be diversified to bitcoin.

There have been a number of companies that have done so, but to a somewhat small extent with $1 million or $10 million.

MicroStrategy stands out for betting a billion, with Saylor stating they were tapping into the bitcoin money network just as companies tapped into the internet back in the 90s.

The business world is somewhat intrigued especially as Saylor himself is a rocket scientist from MIT, but there have been concerns regarding bitcoin’s volatility.

Saylor says bitcoin is volatile only on the short term for traders, and traders like volatility. On longer timeframes, bitcoin has been up 200% a year and he expects it to continue doing so this decade.

Yet there are those who say treasuries are not going to long Tesla, with Saylor’s most difficult task being to differentiate bitcoin and make a case for why bitcoin specifically.

He’ll be going against a sleeping assumption. You keep your savings in dollars, you keep your reserves in fiat. His job was to ask why, and so opened this debate.

Treasurers are now also probably wondering why they should keep it all in fiat especially as they have a reasonable expectation the value of fiat will fall.

To give more clarity, this conference comes at an apt timing with thousands of these wondering executives to attend.

Saylor said he couldn’t name any of them, but our guess would be probably as good as all of them will be listening as this challenges assumptions and thus probably all of them will want to know just what is happening.

Comments (1)

  1. It is very significant event!

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Trustnodes