Bitcoin Corporate ‘Playbook’ will soon be published by business analytics firm MicroStrategy, as per a tweet by company CEO Michael Saylor. At the “Bitcoin Summit 2021” event organized by the company next week, it will be released.
Saylor pressured his company last year to move more of its treasury assets into Bitcoin, despite increasing inflation, predictions of a bleak economy, and generally negative sentiment among a small portion of the private sector about fiat currencies.
The company purchased up over a billion dollars worth of Bitcoin through three transactions, including a $650 million convertible note purchase in December. This did not include Saylor’s own purchases in Bitcoin for his own portfolio.
And now, MicroStrategy is championing the effort to switch some of its assets into Bitcoin for other businesses. The organization will set out legal, governance, and financial aspects for other businesses to understand and respond to in the forthcoming playbook (scheduled for release in an event on February 3), CEO Saylor said.
According to cryptoslate.com, it’s the same groundwork that MicroStrategy followed for its own purchase. Saylor said: “We are going to open-source our #Bitcoin Corporate Playbook, an array of documents covering governance, legal, financial, technical & accounting considerations.”
As such, the release of the playbook will itself be introduced by MicroStrategy CFO Phong le, who will walk through companies and participants on key strategic and operational aspects and relevant steps to consider for Bitcoin integration into a treasury reserve plan for corporations.
