MicroStrategy To Boost Bitcoin Adoption With New Job Opening

Godfrey Benjamin
October 5, 2024
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MicroStrategy Stock Fuels 3-Year Convertible Bond Peak As Bitcoin Hits $93k

Highlights

  • MicroStrategy makes first move to fill a core Bitcoin position
  • This is the latest attempt to promote its Bitcoin advocacy strategy
  • The firm remains one of the top HODLers of Bitcoin

Business intelligence and software company MicroStrategy plans to advance its Bitcoin (BTC) acquisition strategy with a new position it plans to fill. The firm has put out a vacancy on LinkedIn to hire a Bitcoin Advocacy Manager. 

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The Bitcoin Advocacy Manager Role

The particular position that the Michael Saylor-led firm intends to fill is one of its first Bitcoin-focused roles. The chosen applicant will work in MicroStrategy’s headquarters in the United States. The Advocacy Manager will lead a team to plan and execute the annual “Bitcoin for Corporations” conference.

Beyond this, the Bitcoin Advocacy Manager will promote both internal and external education targeted at corporate adoption of BTC. Through the delivery of his duties, he would establish a Bitcoin community interaction center in Washington, DC. Entirely, his responsibilities are centered around advocating for efforts that strengthens MicroStrategy’s leadership in the ecosystem.

MicroStrategy stated clearly that this role is crucial to shaping the future of its Bitcoin strategy. The company kickstarted this movement in 2020 and has since maintained the tempo with consistent BTC purchases. Its most recent acquisition was worth approximately $458.2 million for a total of 7,420 Bitcoin.

The purchase was made after MicroStrategy completed the private issuance of $1.01 billion in Convertible Senior Notes. As of September, the firm held 252,220 BTC in its portfolio. It acquired these for $9.9 billion at an average price of $39,266 per Bitcoin.

With BTC currently trading at $62,067.11, hence MicroStrategy’s entire holding is valued at $15.6 billion.

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Asian MicroStrategy Joins “Bitcoin for Corporations” Conference

MicroStrategy’s “Bitcoin for Corporations” conference is one of those events brings together corporate leaders, financial executives, and technology innovators. Markedly, the discussions during the conference hinges on the future of Bitcoin in the corporate world.

In July, Japanese firm Metaplanet announced its participation as a member of the Bitcoin For Corporations initiative. This Asian firm is also very pro-Bitcoin. Therefore, its decision to join the program aligns with its pursuit. Like MicroStrategy, Metaplanet has initiated several Bitcoin purchases this year.

Despite just launching its Bitcoin accumulation strategy in May, it has purchased more than 500 BTC. Earlier this week, Metaplanet unveiled the purchase of 107 Bitcoin. This suggests that as more organizations joins the MicroStrategy “Bitcoin for Corporations” conference, the number of corporate firms with a consistent Bitcoin strategy may increase

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.