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Bitcoin Still Viewed as Highly Speculative Asset by Most CFOs
A recent survey has revealed that most Chief Financial Officers (CFOs) still view Bitcoin as a highly speculative asset. The findings of the study suggest that despite its growing mainstream adoption and increasing institutional investment, the cryptocurrency remains too volatile for many corporate executives to consider it a viable store of value.
Tesla’s continued holding of Bitcoin remains an outlier in this context, with the electric vehicle manufacturer being the largest corporate holder of the bellwether cryptocurrency by a significant margin. The company’s decision to hold onto its BTC holdings has been seen as a bold move by some, but others have expressed concerns over the risks associated with holding such a highly volatile asset.
Despite a growing number of institutional investors and even central banks exploring the possibility of holding Bitcoin or other cryptocurrencies in their reserves, many CFOs remain skeptical about the cryptocurrency’s potential to serve as a reliable store of value. The volatility exhibited by the market has led some experts to predict that Bitcoin could potentially emerge as a store of value by 2026.
However, most corporate executives are not convinced by this narrative, citing concerns over the asset’s extreme price fluctuations and lack of regulation in the space. A recent proposal to assess Bitcoin investment was overwhelmingly rejected by Microsoft shareholders, with more than 99% voting against it.
As reported by U.Today, Anthony Scaramucci has predicted that Bitcoin could potentially emerge as a store of value by 2026. However, many CFOs are not convinced by this prediction, citing concerns over the cryptocurrency’s volatility and lack of regulation in the space.
The study highlights a significant gap between the views of crypto enthusiasts and those of mainstream corporate executives, with most CFOs unwilling to consider Bitcoin or other cryptocurrencies as viable alternatives to traditional assets.
Source: u.today
