Bitcoin has been in the news for the past few months. And this has led to corporations investing in the same, amidst all that the world’s first Bitcoin playbook has now been announced by MicroStrategy. This announcement was made on Twitter by Michael Saylor, CEO of the company. He also said that the playbook would be released in the 2021 Bitcoin Summit hosted by them next week. Michael Saylor is a firm believer in Bitcoin and its future, and this shows in the playbook they just announced.
Michael’s belief in Bitcoin
Straight from the fact that his company is releasing a Bitcoin “playbook” for corporations to the point that Michael has also invested his firm’s assets in the currency is a straight indication of how much he believes in the asset. The main reason behind this investment was the growing inflation and fear of the economy collapsing. Adding to all that, the steep increase in the value of Bitcoins also influenced his decision a lot.
Till now, Microstrategy has already invested $650 million worth of convertibles into Bitcoins. And this is only the company’s asset. Michael has his own personal portfolio with heavy investments in cryptocurrency. And in the upcoming Bitcoin playbook, Microstrategy will talk about the legal and financial stuff that corporations should consider while investing the company’s asset in the cryptocurrency. The playbook is a picture of Microstrategy’s moves of integrating Bitcoin in their treasury. And the best part is that, in the Bitcoin summit 2021, it will be explained step by step by the CFO of the company.
Even after a lot of Bitcoin swings lately, Michael has made it very clear his strong position in the currency. He tweeted, “Going forward, we continue to plan to hold our bitcoin and invest additional excess cash flows in bitcoin. Additionally, we will explore various approaches to acquire additional bitcoin as part of our overall corporate strategy.”
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Other events of Bitcoin alongside the World’s first Bitcoin playbook launch
Alongside the playbook launch, the “Bitcoin summit 2021” will also host a number of other events to look forward to. There will be a lot of discussions with various crypto business and leaders in the industry. At the same time, Microstrategy will help firms understand things they need to consider before purchasing Bitcoin as an asset for the company.
What are your thoughts on the World’s first Bitcoin playbook by Microstrategy? And do you think it will help corporations understand Bitcoin investment better? Do let us know in the comments below. Also, if you found our content informative, do like it and share it with your friends.