Four out of 77 CFOs surveyed by consulting firm Gartner may channel some of their free liquidity to buy Bitcoin as a corporate asset in 2021.
February 17, 2021 | AtoZ Markets – According to a study conducted by Gartner, 5% of corporate finance personnel intend to invest in Bitcoin (BTC) as a corporate asset, with an additional 11% saying they could invest by 2024. The study is based on the news that Tesla has invested $1.5 billion worth of Bitcoin.
CFOs Willing to Consider Placing Reserves in Bitcoin
The survey targeted 77 corporate executives, including 50 chief financial officers. The answer depends on which industry the company is in. The tech sector is aggressive towards Bitcoin, and 50% of respondents in the industry expect to own cryptocurrencies in the future. There is no difference depending on the size of the company.
The majority of respondents (84%) said their main concern about BTC investment was related to financial risk due to Bitcoin’s high volatility.
More than 70%, one of the most important things they want to know is what others are doing with Bitcoin. Almost the same number of people want to hear from regulators on this issue to help them understand the inherent risks of owning digital assets.
“Financial leaders on a mission to ensure financial stability are unlikely to make speculative leap into uncharted territory,” said Alexander Bant, Gartner’s chief researcher.
Other expressed concerns include board risk aversion (39%), delays in adoption as a means of payment or exchange (38%), lack of understanding (30%), cyber risk (25%), and It included complex accounting (18%).
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