Given that the U.S. dollar is falling, bond yields are mostly non-existent, and gold is performing only marginally, more and more corporations are turning to Bitcoin as a diversification play. Some companies view Bitcoin as as hedge against current market conditions while others see value based on its non-sovereign, fixed supply and deflationay nature.

NASDAQ-listed MicroStrategy purchased $425m in Bitcoin last Fall, making the cryptocurrency the principal holding in its treasury reserve. A number of other public and private companies, as well as institutional investors, such as Square and BlackRock, have also purchased Bitcoin for their treasuries.

Topics to be Covered –

Framework for Thinking about Bitcoin as a Reserve Asset

  • What is the proper framework for Bitcoin vis a vis other assets in the treasury, such as cash, gold, and real estate?
  • How do we weigh the autonomy and increasing scarcity of Bitcoin?
  • How does one factor inflation or deflation into the mix over the mid- and long-term?
  • Are there counterparty risks to consider that could undermine the value of Bitcoin?

Ease of Access + Diligence and Compliance Standards

  • Where to place Bitcoin in the portfolio?
  • Ways to purchase: institutions or direct?
  • How do I make sure that our digital assets look and feel like more traditional portfolio investments, from service providers to reporting?
  • Examples and discussion around institutional-grade platforms built by Fidelity, NYSE, Bloomberg, CME, Deloitte, KPMG and others

Investment Size & Risks

  • What is considered a reasonable investment / allocation for a mid-size or large corporation?
  • How do we manage allocation size as the digital asset class grows?
  • What other digital assets are my peers considering to buy?
  • What are the risks around price volatility, regulation and protocol?

This session is for CEOs, CFOs, Treasurers and related risk, compliance and regulatory leaders. Michael and Phong will be taking your questions, too.

Michael Saylor is a technologist, entrepreneur, business executive, philanthropist, and best-selling author. He currently serves as Chairman of the Board of Directors and Chief Executive Office of MicroStrategy, Inc. (MSTR). Since co-founding the company at the age of 24, Mr. Saylor has built MicroStrategy into a global leader in business intelligence, mobile software, and cloud-based services. In 2012, he authored The Mobile Wave: How Mobile Intelligence Will Change Everything, which earned a spot on The New York Times Best Sellers list. Mr. Saylor attended the Massachusetts Institute of Technology, receiving an S.B. in Aeronautics and Astronautics and an S.B. in Science, Technology, and Society.

Phong Le has served as President & Chief Financial Officer since July 2020, and has previously served in various senior executive positions, including Senior Executive Vice President, Chief Operating Officer and Chief Financial Officer, since joining MicroStrategy in August 2015. Prior to joining MicroStrategy, Mr. Le served as the chief financial officer of XO Communications, a privately‐held telecommunications company, from August 2014 to August 2015. From March 2010 to August 2014, Mr. Le held senior positions at NII Holdings, a Nasdaq‐listed telecommunications company, including vice president of financial planning and analysis, vice president of strategy and business operations, and vice president of strategic finance. Prior to that, Mr. Le worked in the consulting practice at Deloitte from 1998 to 2010, where he held various positions, including senior manager. Mr. Le holds a B.S. in Biomedical Engineering from The Johns Hopkins University and an M.B.A. from the Sloan School of Management at the Massachusetts Institute of Technology.

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Bitcoin as a Treasury Reserve Asset

Given that the U.S. dollar is falling, bond yields are mostly non-existent, and gold is performing only marginally, more and more corporations are turning to Bitcoin as a diversification play. Some companies view Bitcoin as as hedge against current market conditions while others see value based on its non-sovereign, fixed supply and deflationay nature.

NASDAQ-listed MicroStrategy purchased $425m in Bitcoin last Fall, making the cryptocurrency the principal holding in its treasury reserve. A number of other public and private companies, as well as institutional investors, such as Square and BlackRock, have also purchased Bitcoin for their treasuries.

Topics to be Covered –

Framework for Thinking about Bitcoin as a Reserve Asset

  • What is the proper framework for Bitcoin vis a vis other assets in the treasury, such as cash, gold, and real estate?
  • How do we weigh the autonomy and increasing scarcity of Bitcoin?
  • How does one factor inflation or deflation into the mix over the mid- and long-term?
  • Are there counterparty risks to consider that could undermine the value of Bitcoin?

Ease of Access + Diligence and Compliance Standards

  • Where to place Bitcoin in the portfolio?
  • Ways to purchase: institutions or direct?
  • How do I make sure that our digital assets look and feel like more traditional portfolio investments, from service providers to reporting?
  • Examples and discussion around institutional-grade platforms built by Fidelity, NYSE, Bloomberg, CME, Deloitte, KPMG and others

Investment Size & Risks

  • What is considered a reasonable investment / allocation for a mid-size or large corporation?
  • How do we manage allocation size as the digital asset class grows?
  • What other digital assets are my peers considering to buy?
  • What are the risks around price volatility, regulation and protocol?

This session is for CEOs, CFOs, Treasurers and related risk, compliance and regulatory leaders. Michael and Phong will be taking your questions, too.

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