Leading global business intelligence company MicroStrategy is hosting an online seminar this week to explain the legal considerations for companies looking to integrate Bitcoin into their businesses and reserves.
A Feb. 3 tweet from MicroStrategy CEO, Michael Saylor, said representatives from more than 1,400 companies have already signed up for the event – dubbed “Bitcoin for Corporations: Legal Considerations.”
If you are interested in the legal considerations that companies face during their integration #Bitcoin in their business strategy, you are not alone. Tomorrow we will have professionals from more than 1,400 companies with us for this discussion. There is still time for your legal team. https://t.co/fid9nrZUfP
– Michael Saylor (@michael_saylor) February 2, 2021
The seminar will take place on February 3 and February 4, with five one-hour sessions scheduled for the first day and twice as many 30-minute sessions for the second day.
The first day will feature presentations from Saylor, the company’s president and CFO Phong Le, along with representatives from law firms specializing in digital assets. Topics discussed include strategies for including Bitcoin in treasury reserves and related questions related to accounting, tax, legal, and auditing considerations for companies following this strategy.
The second day will feature presentations from the top crypto exchanges and fund managers, including Coinbase, Binance, Grayscale and Galaxy Digital.
In August, MicroStrategy made headlines after it revealed it had purchased 21,000 BTC for $ 250 million. The following month, Saylor announced that the company had purchased an additional 16,796 Bitcoin for $ 175 million, from the company continuously buying about 0.19 BTC every three seconds over 74 hours to complete the transaction.
In December, MicroStrategy has issued $ 650 million in bonds who were quickly mobilized to buy 29,646 BTC. The firm bought an extra 314 Bitcoin for $ 10 million at the end of January, and another 295 BTC for $ 10 million this week, bringing Bitcoin reserves to 71,079 BTC, or 0.38% of Bitcoin’s circulating supply.
While MicroStrategy paid $ 1.095 billion to accumulate its BTC holdings, current prices value the stock at $ 2.57 billion – a 135% gain.
Despite the company’s rampant Bitcoin accumulation, which caused its shares to be downgraded by Citigroup on December 8, the stock has since increased by 113%.