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To promote Bitcoin to businesses, NASDAQ-listed MicroStrategy has it Bitcoin for businesses virtual interactive seminar yesterday. The purpose of the event is to provide advice on how companies can buy BTC as a treasury strategy.

According to Michael Saylor, CEO of MicroStrategy, the first day was a resounding success 1,400 companies Participate. Day 2 continues today, focusing on the discussion of vendors presenting to attendees.

Bitcoin as a hedge against uncertainty

MicroStrategy made headlines in August 2020 as the first publicly traded company to purchase significant amounts of Bitcoin as part of its treasury strategy.

The company outlined the reasons for this in a press release. In it, they say the approach is intended to maximize long-term value for shareholders. But more than that, Saylor spoke of Bitcoin’s advantages over cash in response to macroeconomic factors.

“MicroStrategy has spent months thinking about our capital allocation strategy. Our decision to invest in Bitcoin at this point was driven in part by a confluence of macro factors affecting the economic and business landscape that we believe creates long-term risks to our corporate treasury program – risks that must be proactively addressed. “

Since then, Saylor has become an evangelist for Bitcoin, promoting the cause on numerous fronts.

More recently, Saylor gave one interview in which he made a price prediction of $ 15 million per token. He believes this will be possible if the flow of capital from all other sectors such as real estate, stocks, etc. makes its way into the leading cryptocurrency.

Not everyone agrees with Saylor’s assessment

Business analyst Frances Coppola welcomed MicroStrategy’s move to use its stacks of cash, especially in a market with no interest. But she wondered why the company wasn’t investing in new product lines or existing upgrades, instead of spending on BTC. She also raised the issue of cash flow risk of using Bitcoin heavily.

To add to this, holding significant amounts of BTC may be reason to consider that MicroStrategy is an investment company or perhaps a de facto Bitcoin exchange-traded fund. The implications of this can have legal and regulatory implications.

This problem may be the biggest stumbling block in terms of CEOs jumping on board with Bitcoin. And Saylor is aware of the problem. In a tweet to promote the virtual seminar, he said:

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. “

Day 1 of the event includes a discussion about the legal considerations companies face when buying Bitcoin.

Feedback indicates that the seminar has been a big hit. Saylor says an “avalanche” of businesses will make the switch from cash to Bitcoin in the next 12 months.

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Source: BTCUSD on

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