Survey: 5% of CFOs would consider allocating reserves to Bitcoin

Four of the 77 financial executives surveyed by consulting firm Gartner could direct part of their companies’ free liquidity to acquire the first cryptocurrency this year, according to DeCrypt.

One top executive in this sample is ready to consider such a possibility in one to two years, seven in 2024 or later. 65 CFOs rejected this scenario, citing Bitcoin’s excessive volatility.

“Many questions arise about using Bitcoin as a corporate reserve asset. Until there is clarity on meaningful progress, perhaps it’s not worth counting on it. For corporate financiers, it is not typical to make ‘speculative leaps into unknown territory,’” commented Alexander Bent, head of Gartner Finance.

The consultancy noted that senior executives would like to see a clear regulatory stance on Bitcoin and the risks of custody. 70% of respondents hold such a position.

Other concerns include the board’s rejection of Bitcoin purchases (39%), slow adoption as a payment method (38%), lack of necessary knowledge (30%), cyber risks (25%), and accounting difficulties (18%).

As noted by Ark Investments, for Bitcoin to rise to $500,000, S&P 500 companies would need to allocate into digital gold 10% of their cash reserves.

Recently, following the examples of Square and MicroStrategy in buying Bitcoin, Elon Musk’s Tesla followed suit. Twitter’s CFO said as much.

Earlier, JPMorgan analysts suggested that Bitcoin’s high volatility would deter large companies.

In February, representatives of 6,917 different enterprises attended a MicroStrategy head’s seminar on the opportunities for Bitcoin integration.

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