- In the first week of February, “thousands of executives” will attend MicroStrategy’s digital “Bitcoin for Corporations” conference with the intention of investing.
- According to CEO Michael Saylor, Bitcoin will replace gold as well as bonds, the S&P 500, and even the Dow as the primary currency index.
MicroStrategy’s Michael Saylor is undoubtedly the biggest Bitcoin bull in the market right now. Not only did the CEO buy another 314 Bitcoin for $10 million a few days ago, bringing the tech company’s BTC holdings to 70,784; Saylor has also been relentlessly spinning the promotional drum in recent weeks to convince more companies and institutions to invest in Bitcoin.
And as the past few months have shown, MicroStrategy is clearly a trendsetter. After the Saylor made its first Bitcoin purchase public last August, an avalanche of companies and even Wall Street funds followed. Institutional investors have been instrumental in sustaining and influencing Bitcoin’s bull run above its longstanding all-time high of $20,000.
Provided Michael Saylor has his way, however, we may only be at the beginning of mass adoption. On Friday, Saylor was once again a guest on CNBC and reported that he will be hosting a digital conference, “Bitcoin for Corporations,” which will allow executives from U.S. corporations to learn more about Bitcoin and how they can implement it into their businesses:
We’re going to have thousands of executives, officers…directors, & advisors of corporations coming together in the first week of February. They all want to figure out how to plug #bitcoin into their balance sheet or their P&L.
As Saylor has offered to Tesla and SpaceX founder Elon Musk, MicroStrategy will share its playbook on how companies can buy Bitcoin without affecting the market. Saylor will disclose internal documents regarding the purchase of Bitcoin to give interested companies a better understanding of how to deal with volatility, regulatory trends and other issues.
We gonna publish our playbook, all of our accountancy guiding, all of our legal guidance, all the work that we did over the course of months in order to get ready to do this as a public traded company.
“Who” will come, Saylor declined to answer, but said the community “will figure it out.”
Bitcoin will replace gold, bonds and the S&P 500
In addition to “Bitcoin for Corporations” conference, the MicroStrategy CEO also spoke about his future expectations. Specifically addressing volatility as a deterrent to Bitcoin investment, Saylor stated:
Bitcoin is not volatile for an investor in a 1-4 year time frame because it is boringly spectacular for the pas decade. 200% pretty much per year, on average. […] It’s volatile for traders, but traders like volatility […] I think it has has a stellar year and 2021 will be a good year for Bitcoin.
In addition, Saylor predicted that BTC will replace both gold and bonds, the S&P 500 and even the Dow as the primary monetary index:
The asset itself is technically superior asset. It’s the ideal institutional safe heaven asset. So what’s the future? The future is to flip Gold. It gonna replace Gold and afterwards […] it’s going to become the monetary index and replace stock indexes like the S&P500, the Dow, the Bond Indexes and the like because people want to store their money. They want a safe heaven store of value over the next 10 to 30 years.
#Bitcoin down 20% from the highs and @MicroStrategy CEO @michael_saylor is buying the dip. He says the cryptocurrency could replace gold, bonds, the S&P 500 and even the Dow as the primary monetary index $MSTR $SPY pic.twitter.com/tAKhis4blX
— Power Lunch (@PowerLunch) January 22, 2021