Microsoft, the third-largest company in the world by market capitalization, has no plans to move cash reserves into Bitcoin in the near term. This comes from an interview with Brad Smith, the company’s president, on CNN.
The $BTC balance sheet!
I’m asking every Pres & CEO on @firstmove what they are thinking re digital asset/cash diversification.
It’s a no from @Microsoft but if anything changes @BradSmi promises you’ll hear it here first!! 😉 pic.twitter.com/uK3Zh11M5c
— Julia Chatterley (@jchatterleyCNN) February 16, 2021
According to First Move host Julia Chatterley, after Tesla’s $1.5 billion investment in Bitcoin, she traditionally asks guests whether their companies diversify capital into digital assets.
Brad Smith replied that he is not aware of such plans.
«I haven’t heard any new talks about Bitcoin. But let me just say: if we change our investment policy on digital assets, Julia, you’ll hear about it here first or at least second», — said the executive.
In August 2020, the American analytics software provider MicroStrategy became the first publicly traded company to transfer a portion of its reserves into Bitcoin. According to Bitcoin Treasuries, the firm has invested a total of $1.145 billion in Bitcoin, including $650 million of debt financing.
In 2021 MicroStrategy said that they would explore new opportunities for investing in Bitcoin, and subsequently announced a new round of bond sales for a $600 million bond offering for cryptocurrency investments.
In the autumn, Square, Jack Dorsey’s company, converted part of its capital into digital gold.
In early February, it emerged that one of the world’s largest market-cap companies, Tesla, led by Elon Musk, invested in Bitcoin.
The cryptocurrency market by total market value recently surpassed $1.5 trillion, according to CoinGecko. By this measure it approached Amazon and trailed Microsoft by around $300 billion, according to Coin98 Analytics.
Data: Coin98 Analytics.
Bitcoin’s market cap after the price rose to levels above $51,000 reached $960 billion. That is higher than the value of such companies as Google, Facebook or Tesla.
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