30% OF FINANCIAL DIRECTORS SAY BITCOIN CONSTITUTES A SPECULATIVE BUBBLE FROM THE RESULTS OF A SURVEY
While Bitcoin tends to be democratized among the citizens of many countries, the CFOs of large companies do not seem to be very enthusiastic about cryptocurrencies. And for many, Bitcoin would be a speculative bubble. They share the sentiments expressed recently by some great figures in finance, such as Warren Buffett or Tidjane Thiam.
The CNBC channel interviewed 97 CFOs, working in large companies such as AT & T, Aviva, Levi or Mastercard. Only 43 agreed to answer his questions.
Among them, nearly 30% said that Bitcoin was "very real", it was still a speculative bubble.
This view is quite similar to what is often heard in the mouth of financial leaders, who are generally hostile to Bitcoin. It should be noted, however, that the majority of respondents (30.2%) said they "did not know enough" to be able to comment on the issue.
In addition, some officials seem to believe in a continuation of the rise in the price of Bitcoin. They were thus 14% (or 6 out of the 43 who participated) to declare that Bitcoin was "real, and that its price [would] continue to rise."
These results come as some companies recently said they could turn to cryptocurrency.
These include Ripple's recent partnership with American Express and Santander Bank, which has boosted cryptocurrency by more than 25%.
"No decision has yet been made"
For Karim Hajjar Karim Hajjar, Chief Financial Officer of Solvay Group, "No decision has yet been made on Bitcoin."
"It's not a currency that would be used by a multi-billion dollar company ... it's something that stirs our curiosity, we're very open to it, but we have not found a way yet to integrate it into our business, "he explained.
He continued as follows:
He continued as follows:
"If a customer came to us and said 'I have some Bitcoins I'd like to use to buy your products,' the first thing I would do is not to refuse this proposal, and find a way to resell these Bitcoins before accepting the offer, and then ensuring that our products match the needs of the customers. "
Thus, even if the leader seems to adopt a rather open attitude towards Bitcoin, he does not plan to store cryptocurrency on behalf of his company.
Other companies, like Overstock.com, have opted for a different approach. The retailer has been accepting Bitcoin payments since 2014, and would receive approximately $ 300,000 worth of digital currency each month. It would keep half of these, expecting their value to increase over the years.
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