Why February Could Be Very Big For Bitcoin?

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After the massive bitcoin price boom, here's why February was so big for Bitcoin.

Bitcoin has been in a massive rupture in recent months, adding more than 200% since early October (although its massive rally sparked serious concerns about bubbles).

The bitcoin price boom pushed the bitcoin price up to more than $ 40,000 earlier this month, up from around $ 8,000 in January 2020, bringing the combined value of bitcoins in the world to a -2.5% V Visa, Samsung, and Berkshire Hathaway BRK.B - 1.3%.

Read Also: As bitcoin prices rise, wealthy investors start to take a look

Now, MicroStrategy MSTR + 6.7% of major Bitcoin buyers is preparing to host a virtual "Bitcoin Corporate Strategy" summit in the first week of February - designed to help other companies copy the game's rules for MicroStrategy.

Microstrategy, which now owns about 70,000 Bitcoins worth just over $ 2 billion after the bitcoin buying spree began last summer, is hosting the event on February 3 and February 4, with thousands of attendees participating.

CNBC's Power Lunch This Week: We will have thousands of executives, officers, directors, and corporate advisors meeting together in the first week of February, and it revealed that MicroStrategy has purchased an additional 300 bitcoins this week. 

During the bitcoin sale, you briefly lowered the price to under $ 30,000.

They all want to know how to get Bitcoin into their balance sheet, or PNL. We'll be posting our guide, all of our accounting tips, our legal tips, all the work we've done over the course of months to get ready to do that as a public company. 

And we'll unlock it, make it available to everyone, with the goal of saving millions of dollars for them in weeks or months to make this transition easier.

Although the full list of attendees has not been announced, the event is set to feature giants of the bitcoin industry including the cryptocurrency exchange platforms Binance, Gemini, and Coinbase. 

Others, such as Mike Novogratz's Galaxy Digital, which specializes in investing and developing services related to cryptocurrencies, will participate in discussions of the company's strategy and macro for Bitcoin.

Stone Ridge Asset Management, Inc., will open the online conference along with Saylor on Wednesday, February 3. In October, Forbes revealed that Stone Ridge had invested $ 115 million in bitcoin.

Bitcoin price has always been tied to its public profile - with the mention of Bitcoin media and Google search volume closely tracking bitcoin price highs and lows. Bitcoin traders and investors will be watching closely for the upcoming conference to see which headlines might push Bitcoin's price higher.

This conference could lead to increased interest in Bitcoin, and even if it doesn't translate into immediate price gains, it will definitely have a positive long-term impact, BitBull Capital said in an email. There's also the possibility that the hype around the conference could boost retail sentiment and drive some retail purchases.

The recent rise in Bitcoin has put the cryptocurrency firmly on Wall Street's radar, but Silicon Valley is showing interest, too.