Here’s how the CEO of MicroStrategy plans to get more businesses to buy Bitcoin

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Since last year’s market analytics agency, MicroStrategy, spent $425 million of its treasury funds in Bitcoin, the organisation and its CEO have been credited for allegedly pushing mainstream BTC acceptance.

The start of the Bitcoin rally helped MicroStrategy to take advantage of the market conditions and raise the valuation of its BTC holdings. At the moment when Bitcoin was reaching $13,000, MicroStrategy allegedly received $100 million in two months from their transactions by Bitcoin. These estimates were contrasted to the $78 million MicroStrategy has received from its actual market activities over the past 3.5 years.

In addition, the company’s “primary treasury reserve asset” improved the company’s overall business exposure, said Michael Saylor, CEO of MicroStrategy.

It comes as no surprise that the CEO is now preparing to hold a conference on Bitcoin’s business strategy. Saylor revealed on 12 January that the company’s latest software would include an outline of the ways to“integrate with the Bitcoin monetary network and the advantages of different strategies.”

Together with Ross Steven, Chairman, CEO of Stoneridge and other influential business leaders, Michael Saylor will discuss the incorporation of Bitcoin into reserve treasury strategies. That would also require the integration of the commodity into the balance sheet of public and private corporations. Judicial and regulatory and audit issues are also on the agenda.

It happens that the firm is the first publicly traded company to invest substantial treasury reserves in Bitcoin, or at least that is what the company says. However, MicroStrategy retains 70,470 BTC, worth more than $1,596 billion, in its treasury reserve. This makes it the biggest owners of the commodity in the registry of other companies that, according to Bitcoin Treasures, have invested in BTC.

However, in November 2020, the macroeconomist and co-founder and CEO of Real Vision, Raoul Pal, did not believe that MicroStrategy would be pushing the corporate acceptance of Bitcoin. Talking to Peter McCormack, the podcaster, Pal said:

I don’t think Michael [Saylor] is going to drive corporate adoption in the space because he’s really speaking the language of Bitcoin and not the language of corporate treasurers, and that has to happen.

However, Saylor has always been outspoken about why more businesses need to invest in a leading commodity. Indeed, the CEO also indicated that billionaire Elon Musk could turn Tesla’s balance sheet to Bitcoin. Saylor assured Musk that other S&P 500 corporations would follow his example if he took over the digital asset.

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