Bitcoin has emerged as one of the most substantial and attractive investment alternatives in recent times. Many leading banks and financial institutions have taken the path towards Bitcoin acceptance to secure their position in the rapidly transforming economic ecosystems.
Gartner survey revealed that the majority of financial executives of leading institutions plan to procure Bitcoin in 2021.
CFOs Plan to Watch Out Bitcoin
A recent survey conducted by Gartner revealed that five percent of the companies plan to consider Bitcoin as an investment in 2021, while around 11 percent have hinted of adopting BTC by 2024. The small study conducted with approximately 77 participants which included about 50 CFO have indicated their idiosyncratic views pertinent to their industry. It is interesting to note that Tech firms are most attracted to Bitcoin; the reason may be that tech firms understand the technology behind digital assets better.
On the whole 50 percent of the survey participants revealed that the tech industry is looking forward to holding Bitcoin in the coming days. Undoubtedly, Bitcoin has gained mainstream attention as leading firms have invested in Bitcoin at a massive scale. The concerns relating to volatility and regulation of Bitcoin have always daunted the investors. Around 84 per cent go the people participating in the survey said that an underlying financial risk is associated with Bitcoin. The financial leaders want to wait and see how the Bitcoin adoption by others turns out in future.
With cryptocurrency industry taking centre stage in recent times, it is essential to consider the legal compliance and regulation of the cryptocurrencies across the nations. Recently United States federal agencies have started paying much attention to cryptocurrency. The Chief of Research at Gartner, Alexander bant said that Finance leaders who are tasked with ensuring financial stability are not prone to making speculative leaps into unknown territory,”
Some of the other concerns relating to the adoption of Bitcoin were also revealed in the survey. 38 percent of the respondents said that the slow adoption of Bitcoin as a payment method impacts Bitcoin investment. 39 percent mention board risk aversion, 30 percent mention ambiguity in bitcoin, and 18 percent mentioned complicated accounting as the underlying concern in Bitcoin. Though the sample size of the survey was extremely small and cannot be used to draw conclusive results, however, it reflects the overall mood of the financial leaders.
The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.