Bitcoin price has skyrocketed in the past year from US$10,000 in February 2020 to more than US$51,000 as of Wednesday (17/2) driven by the increasing number of retail buyers and global companies investing in the cryptocurrency.

Global digital payment companies such as PayPal and Mastercard have facilitated transactions of Bitcoin and other cryptocurrencies. Then, followed by MicroStrategy, Tesla, and others who poured their funds to invest in Bitcoin on a large scale. JP Morgan also stated that he was considering investing in Bitcoin.

However, the extraordinary increase in the price of Bitcoin did not make the majority of the company’s chief financial officers (CFO) in the world interested in turning it into a company asset.

In a recent survey by research firm Gartner, only 5% of global CFO companies plan to make Bitcoin a corporate asset. Meanwhile, the other 84% of CFOs don’t plan on that.

“As many as 84% ​​of respondents said Bitcoin’s volatility poses a financial risk,” said Alexander Bant, Chief of Research in the Gartner Finance practice. “It will be very difficult to mitigate the kind of price changes seen in cryptocurrencies over the last five years.”

In fact, some CFOs who stated that they would make Bitcoin an asset of the company admitted that they would not do so in a hurry. As many as 5% of them will probably do so in 2021, 1% in 2022-2023, and 9% maybe in 2024 or later.

Bant explained that Bitcoin price volatility is still a major problem for most CFO companies to make it an asset, in addition to the risks that the board of directors will have to face if the price drops and government regulations in the respective countries of the company.

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