MicroStrategy Bitcoin Conference can cause huge BTC price increase. Why?
Michael Saylor and Microstrategy held an online seminar on Bitcoin. More than 20,000 people were registered for the event, including thousands of corporate representatives.
Saylor’s goal was to explain to directors, CEO’s and managers why he believes Bitcoin is essential to their treasury. He also showed precisely what steps he has taken to invest more than USD 1 billion in Bitcoin, without directly affecting the market price.
Yesterday, on the last day of the seminar, apart from Saylor, Some big names from Coinbase, Binance, Kraken, NYDig, Fidelity, Gemini, Grayscale addressed the conference.
“There is a huge macroeconomic wind blowing that will have an impact of $400 trillion in capital. That capital is in fiat instruments that become less valuable. That capital needs to be converted into sound money.” Saylor said.
He said further:
every company has to make one of two choices. Either you have to have less capital overtime, which is a kind of self-destruction, or you have to recapitalize with an asset that will rise faster than the rate of expansion of monetary supply. This is where Bitcoin comes in.
The conference is not only important because Microstrategy bought Bitcoin for more than USD 1 billion, but also Michael Saylor has a convincing way of explaining Bitcoin and its global importance.
It is especially important because during last Sessions Microstrategy and the above mentioned crypto companies showed how to start with Bitcoin and how to invest in it.
Participating companies have the same questions and problems as early-stage private investors: Where should you buy BTC? When do you buy? How do you buy? Dollar cost average? What are the fiscal and regulatory consequences? How do you keep Bitcoin? What will be safety features? How do you integrate Bitcoin into your accounts?
All these questions have been answered by industry experts in the last two days. The companies executives are now armed with all the information they need to allocate part of their treasury to Bitcoin.
Cathie Wood of ARK Invest says:
if all conference listed companies put 1% of their assets in Bitcoin, we can see another $40,000 rise in BTC price.
For many analysts it was clear that private investors and then financial institutions would adopt Bitcoin. There are logical fundamental reasons for this. But many analyst overlooked the importance of institution investors. Now as with time, organizations adopt Bitcoin, Bitcoin’s price will likely increase.
But there is another group coming, and this will probably be the very last group: the central banks. But according to Anthony Pompliano, we are not yet ready to move central banks from fiat to Bitcoin.
Michael Saylor and Microstrategy are doing exceptional work to train thousands of companies and enable them to begin their Bitcoin journey. This conference will be a milestone and main reasons of BTC adoption by large firms.
Watch Microstrategy conference Videos: https://www.microstrategy.com/en/bitcoin/videos/bitcoin-macro-strategy