- Microstrategy hosted a conference to share their Bitcoin playbook with other global companies
- The event attracted 8,197 participants from 6,917 companies
- All sessions of the conference, including Microstrategy’s Bitcoin Playbook, are available online for free
- MicroStrategy’s share price continues to flourish as a result of the addition of Bitcoin to its coffers
On February 3rd and 4th of this week, Microstrategy held its annual user conference, which included the Bitcoin for Corporations program, led by the company’s CEO Michael Saylor. According to Saylor, the Bitcoin program drew 8,197 participants from 6,917 different companies. Mr. Saylor shared the statistics of the event with the following statement.
Our @MicroStrategy Welt 2021 was a great success with 22,031 registrations. That #Bitcoin for Corporations program drew 8,197 participants from 6,917 different companies. All sessions are free and uploaded here, along with our Bitcoin Corporate Playbook.
SpaceX attended Microstragy’s Bitcoin event
As mentioned by Mr Saylor, all sessions are free, including Microstrategy’s Bitcoin Company Playbook, which can be accessed through this link.
SpaceX was among those attending, as the @DocumentingBTC team highlighted via the following tweet. The space research company’s participation confirms that Elon Musk is actually interested in adding Bitcoin to his treasury.
SpaceX attended Microstrategy’s #bitcoin conference. pic.twitter.com/vCThqFGEHe
– Documentation of Bitcoin 📄 (@DocumentingBTC) February 4, 2021
Institutions continue to accumulate bitcoin
Also this week, Mr Saylor shared an estimate from Ross Stevens predicting that his company – NYDIG – will have $ 25 billion in Bitcoin by the end of the year. Please see Mr. Steven’s comments below.
A year ago we had 25 institutional clients … 280 today. I’m confident we will have over $ 25 billion by the end of the year #Bitcoin. I just got this order book, I guess I don’t see what happens.
This estimate could be conservative as private and public companies now own 1,265,460 BTC, according to BitcoinTreasuries.org. That equates to about $ 49.859 billion using Bitcoin’s current value of $ 39,400. There is a good chance that more companies will want to take part in the campaign.
At the center of Bitcoin accumulation are the two companies Microstrategy and Grayscale, which now hold 71,079 BTC and 649,130 BTC, respectively.
Microstrategy has developed successfully since being downgraded by the CitiGroup
It should be noted that CitiGroup downgraded Microstrategy to a “sell” rating on December 8th last year because the company offered convertible senior notes worth $ 400 million to buy more Bitcoin. However, MicroStrategy’s stock performance has continued to improve despite the “negative” feedback from CitiGroup.
This fact has been highlighted by the Ecoinometrics team using the explanation and graphic below.
MicroStrategy Achievement February 04, 2021
Since the beginning of his #Bitcoin Checkout program:
MSTR + 468%
BTC + 224%
NASDAQ + 24.7%