Gartner, a renowned global research group recently conducted a survey of business executives about their interest in Bitcoin a rapidly growing choice of investment of executives and institutions. The survey result showed that nearly 5% of the surveyed Business executives were ready to invest in Bitcoin as a corporate asset.
The survey was conducted on the heels of the growing interest of institutions as well as retail traders that have led to bitcoin adoption by the likes of BNY Mellon, America’s oldest custody bank, and Microsoft, the largest payment processing giant. Last week was seen as quite an eventful week for bitcoin adoption as not only Tesla made $1.5 billion bitcoin purchase, but the likes of Twitter, Uber, JP Morgan
, and few other multinational billion-dollar firms expressed they are considering using Bitcoin in their operations either as a form of payment or treasury reserve asset.
Bitcoin Volatility Still a Concern
Although the poll results reflect that 5% of the surveyed executives would invest in bitcoin as a corporate asset, however, a majority of the surveyed executives still showed reservation towards the digital asset owing to its high volatility. In fact, a total of 16% showed definitive interest in buying the top cryptocurrency, however, they said they were in no hurry to implement it, as one executive said,
“It’s important to remember this is a nascent phenomenon in the long timeline of corporate assets. Finance leaders who are tasked with ensuring financial stability are not prone to making speculative leaps into unknown territory.”
The price volatility topped the list of risks that these business executives showed reservation against the top cryptocurrency followed by concerns over its slow adoption rate and then regulatory concerns.
The survey of the business executives comes at a time when Bitcoin has surpassed $50,000 price to create another all-time-high as many analysts are sure that the current bull run is more of a supercycle than another bull rally. The fact that bitcoin has continued its rise for nearly 4 months and still shows no signs of slowing down is a clear evidence that the top cryptocurrency can very well touch the price figure of $100,000 by the end of the year.
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Source: Gartner: 5% of Business Executives Intend to Invest in Bitcoin as a Corporate Asset