Majority of global CFOs will never buy bitcoin: Gartner survey

The recent $1.5-billion bet by the US electric car-maker Tesla Inc notwithstanding, a majority of global finance executives, including chief financial officers, have said they do not plan to ever hold bitcoin as a corporate asset, according to a survey by Gartner Inc.

Tesla on 8 February 2021 had disclosed that it had parked $1.5-billion worth of spare cash in bitcoin last month, making it by far the biggest company to invest in the digital asset. Bitcoin had surged 18% reacting to the news. Moreover, US-based enterprise software company MicroStrategy Inc on Tuesday said it will buy additional bitcoin. The company is already holding around 72,000 units of bitcoin worth around $3.6 billion.

These developments are a departure from a usual trend where companies invest their cash in high-quality instruments that are relatively safe and give lower returns.