A survey conducted by the consulting firm Gartner determined that the majority of finance executives do not plan to acquire bitcoin as a corporate asset in the course of this 2021.
In information published in On its blog on February 16, the firm presented the results of the survey of 77 finance executives during the first days of this month, including 50 directors of finance companies. Although he did not give names or mention the places where he applied the questionnaire.
The results show that, of the total respondents, only 5% said that they planned to keep bitcoin as an asset, while 84% assured that they do not plan to include the pioneer cryptocurrency as a corporate asset in the short term.
According to Gartner data, the majority of the group interested in bitcoin plans to acquire it in the coming years.
Even 16% of respondents willing to adopt the cryptocurrency as part of your organization’s financial strategy was in no rush. 5% of respondents indicated that they would start having bitcoin in 2021, 1% said that they would have bitcoin sometime in 2022-2023, and the remaining 9% indicated that they would start having bitcoin in 2024 or later.
The consultant indicates that the results were similar both in large and small organizations. The greatest interest was observed in the companies linked to the technology sector . “Finance executives from private companies were the least favorable to bitcoin and only 7% said they would ever keep it,” he added.
Main fears: volatility and lack of regulation of bitcoin
In relation to the results of the survey, Alexander Bant, head of research at Gartner Finance explained that the volatility of the Cryptocurrency was one of the reasons why respondents were against investing in bitcoin. They rated the strategy as very “high financial risk.”
“It would be extremely difficult to mitigate the kind of price fluctuations observed in cryptocurrency in the last five years,” the executives told the firm. They also mentioned other problems, such as the slow adoption of BTC as a massively accepted form of payment, regulatory concerns, and a lack of experience in handling cryptocurrencies.
«71% of those surveyed said that one of the main things that I would like to know what others are doing with bitcoin. 78% want to hear more from regulators about bitcoin and better understand the risks involved in holding it, “the publication limits.
In this regard, Bant recalled that this strategy is an incipient phenomenon. He referred to this that the decisions to invest in this type of assets, made by companies such as MicroStrategy, only date back to last year.
As reported by CriptoNoticias, the A business intelligence company led by Michael Saylor made a first purchase of 21,454 bitcoins in August 2020. This, as part of a treasury strategy aimed at mitigating the negative effects of the global economic outlook, caused in large part by the coronavirus pandemic.
The initial amount invested by MicroStrategy, which for that date represented about 250 million dollars, has been revalued by more than 400% in six months due to the rise in the price of bitcoin. Purchases continued at the end of 2020 and early 2021.
This line of action that uses BTC as a safeguard of value similar to gold has been supported by companies such as Tesla, Ruffer and Grayscale, for only name a few. According to the information service Bitcoin Treasuries, corporations have allocated more than 45 billion dollars to invest in the first cryptocurrency.
No However, Gartner’s head of Research believes that the results of his survey highlight the fears that still lie behind many entrepreneurs. “Financial leaders who are tasked with ensuring financial stability are not prone to speculative leaps into unknown territory, “he said.
In this sense, an eToro survey conducted earlier this year showed a similar trend to Gartner’s , after interviewing some 25 companies linked to the ecosystem.
Most of them cited regulatory uncertainty, insufficient presence of traditional custodial providers and the low capitalization of the cryptocurrency market, as the main factors hampering institutional participation in bitcoin.
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