Bitcoin has experienced a strong boom in its price over the last few months, from US$ 13,679 on November 1 to US$ 32,822, at the time this report was written. Midway through, it hit records and reached US$ 40,000 in early January. But the excitement is not over, and February may be a month of more news for the bitcoin.
It is because this Wednesday (3) MicroStrategy conference takes place with big names in the market. MicroStrategy and its founder, Michael Saylor, are major bitcoin buyers, and the idea is that the event will help other companies follow MicroStrategy’s bitcoin guidelines, Forbes explains.
Thus, the event – which takes place on February 3 and 4 – attracted thousands of subscribers, including executives and directors of companies.
Event in February will have the participation of big names in the market and tips on bitcoin
“We’re going to publish our guidelines, all of our accounting and legal guidance, all the work we’ve done over months to be ready to do this as a publicly-traded company”, Saylor said on a CNBC program.
With the expectation for the participation of big names in the market, investors and traders should closely monitor the conference’s course. The news that arises in the discussions can influence the price of the leading cryptocurrency.
“This conference can further leverage interest in bitcoin, and even if it doesn’t correspond into immediate price gains, it will have a positive long-term effect”, Joe DiPasquale, CEO of bitcoin and crypto hedge fund BitBull Capital, told Forbes.
In addition, the executive says, conversations during the event can spur small investors to make so-called retail purchases.
MicroStrategy has about 70 thousand bitcoins after buying over 300 bitcoins taking advantage of a recent price drop.
At the end of December, the company’s founder even provoked Elon Musk, the creator of Tesla. On Twitter, Saylor suggested that Musk converted the Tesla balance to bitcoins. “If you want to do a favor of US$ 100 billion to your shareholders, convert the Tesla balance sheet from dollars to bitcoins. Other companies in the S&P 500 would follow you and, in time, this would grow to become a US$ 1 trillion favor”.