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What CEOs Need To Know About Bitcoin: Including potential new business models to consider

Bitcoin is the most famous crypto currency, with good reason. It was the first to leverage the new concept of a blockchain to enable a distributed, but trusted ledger, which for the first time in history allowed a cryptocurrency where double spending was impossible. Since its founding on 3 January 2009 the system has worked and proven it can scale with extreme accuracy.

Bitcoin’s growth and acceptance has been slow, but has grown to the point where the total value in Bitcoin today is over $701 Billion Dollars. It is the 12th largest store of value in the world (Gold is number one at $11 Trillion Dollars). The store of value in Bitcoin is now larger than all the holdings of Berkshire Hathaway. It has a larger market cap than Visa, Mastercard, JPMorgan Chase and every other bank. Clearly Bitcoin is here to stay.

But what does this mean for your business? Our reporting on cryptocurrencies to date has made it pretty clear that a Cambrian explosion in innovation in Bitcoin related products and services is underway. This is a very dynamic field. To help make sense of this we attended the recent MicroStrategy World conference, which had a focused track led by CEO Michael Saylor on this very topic.

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Bob Gourley

Bob Gourley

Bob Gourley is the co-founder and Chief Technology Officer (CTO) of OODA LLC, the technology research and advisory firm with a focus on artificial intelligence and cybersecurity which publishes OODALoop.com and CTOvision.com. Bob is the author of the book The Cyber Threat. Bob has been an advisor to dozens of successful high tech startups and has conducted enterprise cybersecurity assessments for businesses in multiple sectors of the economy. He was a career Naval Intelligence Officer and is the former CTO of the Defense Intelligence Agency.