- According to a Gartner Inc. survey, at least 5% of finance executives plan to hold Bitcoin as a corporate asset in 2021, with 11% open to holding it by 2024.
- Gartner’s survey follows the news that Tesla has invested $1.5 billion in Bitcoin.
- Big companies are starting to gain interest in Bitcoin as its price rockets past $50,000.
- However, 84% of the respondents said that bitcoin’s volatility posed a financial risk.
Gartner’s survey follows the news of Tesla investing $1.5 billion in BTC. MicroStrategy Inc. has also bought large sums of the token. It will sell a $600 million convertible bond offering notes and intends to use the profits to buy more BTC.
While BTC keeps rising in popularity, 84% of the respondents said that BTC’s volatility posed a financial risk. They also listed other issues such as slow adoption as payment, regulatory matters, and a lack of expertise.
Alexander Bant, chief of research in the Gartner Finance practice, described the respondents’ answers as follows:
Eighty-four percent of the respondents said that bitcoin’s volatility posed a financial risk. It would be extremely difficult to mitigate the kind of price swings seen in the cryptocurrency in the last five years.”
Bitcoin soared past a new record high of $50,000 on Tuesday — a rally that many analysts credit to more serious institutional interest rather than speculative retail trading.