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Bitcoin Still Viewed as Highly Speculative Asset by Most CFOs
Despite achieving impressive institutional acceptance milestones with the launch of exchange-traded funds (ETFs) this year, it appears that many chief financial officers (CFOs) still harbor significant skepticism towards Bitcoin. According to a recent survey, 11% of CFOs continue to view the largest cryptocurrency as a fraud.
While this number may seem alarming at first glance, it represents a notable improvement compared to the findings from just three years ago. In 2017, nearly one-third (32%) of CFOs surveyed considered Bitcoin to be a fraud.
The stark contrast between these two statistics underscores the significant shift in sentiment towards digital assets over the past few years. It’s clear that more and more financial professionals are becoming increasingly open to the idea of integrating cryptocurrencies into their portfolios.
However, it’s crucial to acknowledge that even with this growth in acceptance, there remains a dedicated contingent of CFOs who continue to view Bitcoin as a highly speculative asset. This sentiment is likely driven by lingering concerns about its volatility, regulatory uncertainty, and lack of mainstream adoption.
On the other end of the spectrum, an astonishing 4% of CFOs surveyed reported having no opinion or perspective on Bitcoin whatsoever. While this figure may seem insignificant at first glance, it serves as a testament to the incredible mainstreaming of digital assets in recent years.
The overwhelming majority (85%) of CFOs, however, took a middle ground, acknowledging both the potential benefits and drawbacks associated with investing in Bitcoin.
In conclusion, while we have seen significant strides forward in terms of institutional acceptance, it’s clear that there remains a substantial amount of skepticism towards this particular asset class.
Source: u.today
