Michael Saylor Will Release First BTC Playbook For Corporations

Microstrategy’s CEO Michael Saylor will release the first-ever Bitcoin playbook for corporations according to a tweet that we have in our latest Bitcoin news.

The company entered the Bitcoin space in 2020 amid the fears of inflation and the crashing dollar. Now, Microstrategy is urging other corporations to do the same. Business analytics company Microstrategy’s CEO Michael Saylor will release the Bitcoin Corporate playbook at the Bitcoin Summit 2021 that is hosted by the company next week.

“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.”https://t.co/RNs8E0XF6J

— Michael Saylor (@michael_saylor) January 28, 2021

Last year, Saylor pushed his company to shift the treasury assets into BTC amidst the rising inflation and the fears of the crashing dollar, as well as the overall negative sentiment about fiat currencies in the corporate sector. The company picked up a few billion dollars worth of Bitcoin and a $650 million convertible note purchase at the end of 2020. This was not including Saylor’s own BTC purchase for his portfolio. Microstrategy will now be making efforts for other corporations to shift some of the assets into BTC. In the upcoming playbook, the company will lay out governance, legal and financial considerations for other corporations to consider as Saylor said:

 “We are going to open-source our #Bitcoin Corporate Playbook, an array of documents covering governance, legal, financial, technical & accounting considerations.”

The playbook’s release will be presented by Phong Le, who will explain to the corporations the key strategic considerations and associated steps to consider the bitcoin integration into a treasury reserve strategy. The playbook’s launch is a part of the event hosted by the company which will feature other crypto companies and industry leaders to discuss BTC-related topics. Some of the events include a BTC macro outlook strategy, legal considerations, financial and accounting considerations as well as corporate strategies.

We are going to open source our #Bitcoin Corporate Playbook, an array of documents covering governance, legal, financial, technical & accounting considerations. Get the briefing & early access at our Bitcoin for Corporations conference Feb 3/4. https://t.co/jHAhAkIq76 pic.twitter.com/VylvaYyyfJ

— Michael Saylor (@michael_saylor) January 28, 2021

In the meantime, the BTC purchases are not stopping for the company. In a separate tweet, Saylor noted that the company will likely invest any “excess cash flows into Bitcoin” and plans on acquiring the assets as a part of the broader corporate plan. As recently reported, Bitcoin became quite the phenomenon on Wall Street and as well as in the corporate world over the past few months. It started a while ago when Microstrategy purchased BTC with money from the treasury of the company showing the world that BTC is a long-term investment and also a store of value.