About 5% of some companies' executives have the intention of buying Bitcoin.
A study carried out on financial executives from different companies found that they intend to acquire Bitcoin.
Major Signals
- Gartner conducted a survey recently on about 77 people out of whom 50 were financial executives.
- 5% indicated an interest in acquiring Bitcoin as an asset for their company in 2021
- About 11% said they have plans of making an acquisition into bitcoin by 2024.
Tesla's recent adoption of bitcoin seems to have spurred interest in crypto for most companies and financial corporations. Companies like Apple, MasterCard, PayPal, and Twitter have started incorporating bitcoin into company assets and using it as a store of value. Micro strategy even recently rounded up some company representatives on a Bitcoin webinar, with the result that some signed up.
Amid all this paradigm shift, Gartner conducted a survey recently on about 77 people out of whom 50 were financial executives, including Chief Financial Executives amongst other executives. Out of this number, some 5% indicated an interest in acquiring Bitcoin as an asset for their company in 2021. About 11% said they have plans of making an acquisition into bitcoin by 2024.
The segment of the market where they work seemed to have an effect on the respondents' positive or negative reaction irrespective of the size of the company. The largest number of respondents came from the technology sector. Over 50% of the respondents from this sector were interested in and looked forward to holding cryptocurrency, whether to trade or to hodl.
For a large number of those involved, some 84% expressed their significant concerns about investing in crypto. These concerns hinge mainly on the financial risk resulting from Bitcoin’s high volatility. It also seems a number of them are waiting to see future developments as further events unfold.
Over 70% of the participants noted that they are interested in the uses others have found for bitcoin. Close to the same 70% agree on waiting to know how regulators in the financial sector would react to crypto to mitigate the risk of future crackdowns or bans. Other misgivings of the participants include: board risk aversion (39%), slow adoption as an accepted form of payment or exchange (38%), lack of understanding (30%), cyber risks (25%), and complex accounting treatment (18%).
