A Gartner survey has shed some light on what the immediate future holds for Bitcoin as a corporate asset this year. The majority of corporate CFOs are not planning to buy the token.
As reported, only 5% of those surveyed said that they plan to hold Bitcoin this year. While an overwhelming 84% of the respondents said that they will never purchase the original digital token as an asset.
You can check out more details of the February survey consisting of 77 finance executives, including 50 chief financial officers.
Volatility was cited as the biggest concern, with the wild price swings of Bitcoin posed a financial risk for most of the decision makers surveyed. Boarder risk aversion, the slow adoption as an accepted form of payment, regulatory concerns, as well as cyber threats were also cited as concerns.
Alexander Bant, chief of research at the Gartner Finance practice:
“It would be extremely difficult to mitigate the kind of price swings seen in the cryptocurrency in the last five years. There are a lot of unresolved issues when it comes to the use of Bitcoin as a corporate asset. It’s unlikely that adoption will increase rapidly until we get more clarity on these challenges.”
This survey comes shortly after Bitcoin is on another wild swing, where the price of the digital currency has surpassed the $50,000 milestone amidst interest from the corporate world and institutional investors.
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