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BTC · 5w

After Massive Bitcoin Price Boom, Here’s Why February Could Be Very Big For Bitcoin

Bitcoin has been on a phenomenal tear over recent months, adding over 200% since early October (though its huge rally has sparked serious bubble fears).

The bitcoin price boom took bitcoin to over $40,000 earlier this month, up from around $8,000 in January 2020, making the combined value of the world's bitcoins worth more than Visa V , Samsung and Berkshire Hathaway BRK.B .

Now, major bitcoin-buyer MicroStrategy MSTR , led by bitcoin evangelist Michael Saylor, is gearing up to host a virtual "bitcoin corporate strategy" summit in the first week of February—designed to help other companies copy MicroStrategy's bitcoin playbook.

MORE FROM FORBESExtent Of Bitcoin Bubble Fears Revealed After Huge $200 Billion Bitcoin Price DownturnBy Billy Bambrough The bitcoin price has soared in recent months, eclipsing its 2017 highs of $20,000 per bitcoin and ... [+] briefly passing $40,000. Getty Images

Microstrategy, which now owns some 70,000 bitcoin worth just over $2 billion after kicking off its bitcoin-buying spree last summer, is hosting the event on February 3 and February 4, with thousands signed up to attend, according to Saylor.

"We're going to have thousands of executives, officers, directors and advisors of corporations coming together in the first week of February," Saylor told CNBC's Power Lunch this week, speaking after he revealed MicroStrategy had bought a further 300 bitcoin tokens this week during a bitcoin sell-off that took the price briefly under $30,000.

"They all want to figure out how to plug bitcoin into their balance sheet or their PNL. We're going to publish our playbook, all of our accounting guidance, our legal guidance, all the work we did over the course of months to get ready to do this as a publicly traded company. And we're going to open source it, making it available to everybody with the thought of saving them millions of dollars in weeks...

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