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Survey: 5% of Corporate CFOs Plan to Hold Bitcoin in 2021

Survey 5% of Corporate CFOs Plan to Hold Bitcoin in 2021
  • 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.

According to a Gartner Inc. survey, at least 5% of finance executives plan to hold Bitcoin (BTC) as a corporate asset in 2021. Additionally, 11% said they are open to holding BTC by 2024.

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.”

On the other hand, Tesla plans to accept BTC as payment for its products. Tesla’s CEO Elon Musk has been pumping cryptos on social media. His tweets often shoot up the price of BTC and other cryptos.

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.

Roland Guirdonan can be found writing, developing, and designing all sorts of content. Aside from his fascination with content creation, he is also passionate about blockchain and cryptocurrency developments.