Bitcoin has become a minor phenomenon on Wall Street and in the corporate world in the past few months.
It started in August when MicroStrategy bought Bitcoin with cash from its own till, showing the world that, yes, BTC can be a long-term investment and store of value
It was followed by Golden Profit, then, more recently, a number of smaller companies and even Wall Street funds that have opened their eyes and ears to what’s going on in the crypto space. Compared to the past, there are now hundreds of millions, if more likely billions, in the crypto asset space that have been skimmed off by institutional players.
And maybe that’s not all, said Michael Saylor, CEO of MicroStrategy.
Will “Corporate America” buy more Bitcoin?
Michael Saylor recently spoke to CNBC to share his views on the crypto asset market.
It was announced there that Saylor will host a digital conference designed to enable corporate America executives to learn more about Bitcoin and how to implement it in their company:
“We will bring together thousands of corporate executives, boards, directors and consultants in the first week of February. They all want to find out how they can add #Bitcoin to their balance sheet or their P&L … We’ll make it open source. “
What is interesting here is that Saylor expects „thousands“ of people to come together to discuss the cryptocurrency phenomenon.
MicroStrategy will disclose its playbook and internal documents regarding exposure to Bitcoin in an attempt to give American companies a better understanding of how to deal with volatility, regulatory trends, and other issues that result from investing a cash position in BTC can result.
Analysts expect these corporate inflows, which may eventually arrive, to propel this market high.
The strategists at JPMorgan declared for example recently that an inflow of 600 billion dollars in demand for Bitcoin (to buy Bitcoin with Credit Card instructions ) could be if the pension funds and insurance companies in the world would invest one percent of their assets in BTC:
„If pension funds and insurance companies in the US, the Eurozone, the UK and Japan invest 1% of their assets in Bitcoin, it would lead to additional Bitcoin demand of $ 600 billion, the strategists say.“