Microstrategy Will Host Second Conference For BTC For Corporations

Microstrategy will host a second conference for Bitcoin for corporations aiming to bring it closer to these major companies as we are reading further in our latest Bitcoin news.

The NASDAQ-listed software giant will have a virtual event to educate large companies about the merits coming from using BTC on their balance sheets and more initiatives related to this cryptocurrency. Michael Saylor, the CEO of Microstrategy who is also a prominent BTC bull, announced that Microstrategy will host another conference for Bitcoin and large corporations that are interested in integrating it into their products, balance sheets, and services.

If you are a corporation interested in integrating #bitcoin into your products, services or balance sheet, join us next week. You will hear from experts in bitcoin strategy, treasury, accounting, law, technology, trading, custody, payments, & banking.https://t.co/V9fIkv633q

— Michael Saylor⚡️ (@saylor) January 30, 2022

Saylor will be among the speakers and will be joined by Block’s CEO Jack Dorsey, Phong Le who is the CFO of Microstrategy, and Lolli’s Head of Communication Aubrey Strobel.  Bitcoin for Corporations will start at the beginning of February and will open with a Keynote speech from Dorsey and Saylor.

On the second day, during the same hours, there will be other panels from the largest US exchange Coinbase as well as from NYDIG, Bitpay, Paxos, and fidelity. It is worth noting that Microstrategy now owns more than120,000 Bitcoins and it once hosted such an event last year. Also, it saw a massive interest from executives from various organizations and he even said that he has never seen so many CEOs sign up to attend these types of events.

As recently reported, Microstrategy was trying to avoid claiming BTC impairment losses which are able to shrink the company’s reported value. The software company did well in 2021 as the price of BTC went from $29,000 to $68,000. However, not everything seems that good. The US Securities and Exchange Commission rejected Microstrategy’s BTC accounting method which would have allowed it to avoid using an impairment for BTC. Under the generally accepted accounting principles, you are able to adjust the value of BTC on the balance sheet when the price goes down which it did between the bull runs and this is called impairment.

The company even responded that it would do so whcih means that Microstrategy’s next quarterly earnings statement will show that the company is worthless on paper than claimed. Microstrategy is a cloud software company but in the past two years, it transformed itself into a de facto BTC fund. Under CEO Michael Saylor, the company bought up 124,391 BTC since 2020 which is now worth $4.5 billion.