🎧 Thriller Insider - S4EP8: MicroStrategy World.Now 2021 Day 1 Recap

  
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Thriller Premium is covering MicroStrategy World.Now 2021 for the first year, because MicroStrategy is the first publicly traded company to invest significant treasury assets in Bitcoin. At World.Now, you'll hear from MicroStrategy Chairman and CEO Michael Saylor, as well as a slate of BTC industry luminaries, as they discuss this groundbreaking treasury reserve strategy. Were excited as hell to cover this event this year and bring you all the latest highlights to keep you up to date in what is going on with the Corporate adoption space of Bitcoin.

Our first day agenda, MicroStrategy provided a concise yet comprehensive overview of the topics corporations needed to address as they develop & implement their Bitcoin strategy. 

Topics included:

      1. Macroeconomic environment, outlook, treasury & investment strategy
      2. Integrating Bitcoin into the Balance Sheet or P&L of public & private companies
      3. Financial, Operational, Systems, & Execution Considerations
      4. Legal & Regulatory Considerations
      5. Accounting, Tax, & Audit Considerations

Highlights

Bitcoin Macro Strategy

Bitcoin as an investment grade, safe-haven treasury reserve asset. Bitcoin is the solution to the store of value problem faced by all corporations & their customers. In this session, we will discuss:

  • Bitcoin as the emerging dominant monetary network

  • The pros & cons of other assets as a treasury reserve

  • The macroeconomic outlook for the coming four years

  • The history of Bitcoin & structure of the crypto industry

  • Critical developments this year and outlook for next year

SPEAKERS:

Michael J. Saylor 
Chairman and CEO, MicroStrategy

Michael Saylor (michael.com) is the Chairman & CEO of MicroStrategy (MSTR), a publicly traded business intelligence firm that he founded in 1989.  He is also the founder of Alarm.com (ALRM), named inventor on 40+ patents, & author of the book “The Mobile Wave”.  He founded & serves as trustee for the Saylor Academy (saylor.org), a non-profit organization that has provided free education to 800,000+ students. He is an advocate for the Bitcoin Standard (hope.com).  He has dual degrees from MIT in Aerospace Engineering & History of Science.

Bitcoin Corporate Strategy

Bitcoin can be integrated into the P&L as well as the balance sheet of corporations.

  • Bitcoin treasury strategy

  • Bitcoin product strategy

  • Bitcoin service strategy

  • Bitcoin for competitive advantage

  • Bitcoin to avoid solvency challenges

  • Examples of corporations successfully integrated Bitcoin

  • Future opportunities & competitive dynamics

SPEAKER:

Michael J. Saylor
Chairman and CEO, MicroStrategy

Michael Saylor (michael.com) is the Chairman & CEO of MicroStrategy (MSTR), a publicly traded business intelligence firm that he founded in 1989.  He is also the founder of Alarm.com (ALRM), named inventor on 40+ patents, & author of the book “The Mobile Wave”.  He founded & serves as trustee for the Saylor Academy (saylor.org), a non-profit organization that has provided free education to 800,000+ students. He is an advocate for the Bitcoin Standard (hope.com).  He has dual degrees from MIT in Aerospace Engineering & History of Science.

Bitcoin Corporate Playbook

A walkthrough of key strategic and operational considerations and associated steps to consider for corporations integrating Bitcoin into a treasury reserve strategy.

  • Corporate governance

  • Vendor selection & due diligence

  • Execution technique 

  • Systems & risk controls

  • Debt, equity, & shareholder relations

  • Future opportunities & competitive dynamics

SPEAKER:

Phong Le
President and CFO, MicroStrategy

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.

Jeremy Price
Senior Vice President, Financial Planning & Analysis, MicroStrategy

Jeremy Price is the Senior Vice President of Financial Planning & Analysis at MicroStrategy and served in that role since 2016. In addition, he has also led our Treasury and Investor Relations teams since 2020, helping lead our treasury reserve and bitcoin initiatives. Mr. Price joined MicroStrategy in 2002 and has served in various roles in the Finance, Consulting and Operations organizations. Mr. Price received a BBA from Loyola University Maryland.

Bitcoin Legal Considerations

An overview of key legal & regulatory considerations for corporations integrating Bitcoin into a treasury reserve strategy, from the point of view of the General Counsel.

  • Corporate governance

  • Regulatory considerations

  • Vendor selection & due diligence

  • Policies and procedures

  • Disclosure considerations

SPEAKERS:

W. Ming Shao
SEVP and General Counsel, MicroStrategy

W. Ming Shao has served as Senior Executive Vice President & General Counsel since December 2014, and has previously served in various senior positions, including Executive Vice President & General Counsel, Senior Vice President & General Counsel, and Senior Vice President & Deputy General Counsel, since joining MicroStrategy in February 2000. Prior to that, Mr. Shao was a lawyer practicing at the global law firm Hogan & Hartson L.L.P. (now Hogan Lovells US LLP). Mr. Shao received an A.B. in Government from Cornell University and a J.D. from Harvard Law School.

Euna Greene
Assistant General Counsel, MicroStrategy

Euna Greene has served as Assistant General Counsel since May 2020 and has previously served as Principal Senior Counsel and Senior Counsel since joining MicroStrategy in May 2016. Prior to that, Ms. Greene was a lawyer practicing at the global law firm Hogan Lovells US LLP. Ms. Greene received a B.A. in Economics and Psychology from Cornell University and a J.D. from Cornell Law School.

J. Dax Hansen
Partner & Chair, Blockchain Tech & Digital Currency Industry Group, Perkins Coie LLP

J. Dax Hansen is a technology transactions and regulatory attorney who has pioneered blockchain, digital currency, payments and fintech law. Dax serves as chair of the firm’s leading Blockchain Technology & Digital Currency industry group, which publicly launched in 2013 after the firm spent several years helping innovators lay the groundwork for blockchain infrastructure. Since 2006, Dax has chaired the firm’s Electronic Financial Services (Fintech) practice, which, for decades, has served clients innovating and operating at the intersection of emerging technologies and money.

Thomas S. Ward
Partner, WilmerHale LLP

Tom Ward is a partner in the Corporate Practice Group and serves as chair of WilmerHale's International Transactions Group. His practice focuses on corporate and securities matters, with an emphasis on public and private offerings, mergers and acquisitions, venture capital work and international transactions.

Bitcoin Finance Considerations

An overview of key finance, accounting, tax, and audit considerations for corporations integrating Bitcoin into a treasury reserve strategy.

  • Accounting considerations

  • Tax considerations

  • Audit considerations

  • Risk controls

  • Strategic considerations

SPEAKERS:

Phong Le
President and CFO, MicroStrategy

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.

Rob Massey, Partner
Global Tax Leader – Blockchain and Digital Assets 

Rob Massey has over 20 years of professional experience in tax consulting for technology companies. Since 2013, he has focused on blockchain, digital assets, cryptocurrency and tokenization. He serves companies throughout the blockchain ecosystem inclusive of investors, miners, staking providers, payment processing, wallet hosting, exchanges, hedge funds, tokenization and protocol development. Rob leads Deloitte’s blockchain efforts in tax for the global firm.
Rob’s blockchain expertise spans the comprehensive tax considerations of blockchain enabled transactions and the analysis of the tax impacts of tokenization and digital asset transactions across various business models and industries. Rob holds a B.S in Accounting from the University of San Diego and a M.S. in Tax from San Diego State University. Rob is also a certified public accountant.

Amy Park, Partner
US Audit & Assurance Blockchain & Digital Assets Specialist

Amy has more than 16 years of experience in public accounting, including a practice fellowship at the Financial Accounting Standards Board. Currently, she serves as an audit partner in Deloitte’s National Office Accounting and Reporting Services specializing in technical accounting matters in consolidation, financial instruments, and digital asset accounting. She also serves on the AICPA’s Digital Assets Task Force, focusing on accounting matters. In addition to her technical experience, Amy has served public and private companies in the banking and securities industries. Amy is a member of the American Institute of Certified Public Accountants. Amy holds a B.S. in Economics with a concentration in Accounting from The Wharton School, holds a B.A. in East Asian Studies from the University of Pennsylvania, and is a certified public accountant.

  • MicroStrategy has laid out a concrete plan for every Corporation to add Bitcoin to its Treasury.

  • It has Open Sourced its entire playbook on how to do this from a company first perspective that has never been done before.

  • Very impressed with the attention to detail with MicroStrategy as a company and the on point nature the company displayed today during the conference.

References Docs Mentioned in Conference: Bitcoin Initiative – Project Roadmap | Key Considerations for Corporate Investment in Bitcoin | Treasury Reserve Policy | Bitcoin Trading Policy | Contractual Considerations for Digital Asset Custodians | Bitcoin Accounting Treatment Considerations | Corporates Investing in Crypto

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