MicroStrategy, the leading international business intelligence company, is holding an online seminar this week to discuss the legal implications for companies seeking to incorporate Bitcoin into their companies and reserves.
A tweet from Feb.3 from MicroStrategy CEO, Michael Saylor, reported that delegates from above 1,400 firms have already signed up for the event — called “Bitcoin for Corporations: Legal Considerations.”
MicroStrategy will conduct the seminar on Feb. 3 and Feb. 4, with the first day having five one-hour sessions. The second day is programmed with twice as many 30-minute sessions.
The company’s president Saylor and CFO Phong Le, including representatives of legal companies dealing in digital properties, will be featured on the first day of the seminar. They will be covering issues that would cover strategies for integrating Bitcoin into treasury reserves and questions related to accounting, tax legal, and auditing considerations for companies who follow this strategy.
MicroStrategy hit the headlines in August after announcing it had bought 21,000 BTC for $250 million. Saylor revealed in the next month that the company acquired an additional 16,796 Bitcoin for $175 million along with consistently buying approximately 0.19 BTC every three seconds spanning 74 hours to finish the transaction.
MicroStrategy released a $650 million amount of bonds in December that was instantly mobilized to buy 29,646 BTC. The company bought a further 314 Bitcoin for $10 million in late January along with an additional 295 BTC for $10 million this week turning its Bitcoin reserves up to 71,079 BTC, or 0.38% of Bitcoin’s supply circulation.
Even though MicroStrategy paid $1,095 billion to obtain its BTC holdings, the stockpile is priced at present values of $2.57 billion, a 135% gain.
The stock has since risen by 113% irrespective of the company’s massive accumulation of Bitcoin which has contributed to the downfall of Citigroup on December. 8