Billionaire bitcoin investor Michael Saylor, co-founder of MicroStrategy, failed in an effort to persuade Microsoft to hold crypto on its balance sheet. Despite Bitcoin's price surge this year and the potential for a national bitcoin reserve under the Trump administration, few companies hold or accept Bitcoin due to financial concerns. A recent CNBC CFO Council survey reveals that while CFO sentiment towards Bitcoin has softened, it's still largely viewed as a speculative asset rather than a store of value.
Billionaire bitcoin investor Michael Saylor , co-founder of MicroStrategy, failed in a recent effort to convince Microsoft to hold crypto on its balance sheet.
Chief financial officers have moderated in their view, with fewer survey respondents calling bitcoin a"fraud" as compared to prior year surveys, but still rejecting the view it is a store of value rather than speculative asset class.to use some of its more than $78.42 billion in cash and cash equivalents on its balance sheet to buy bitcoin.The company's stock price has risen more than 410% this year, with the company holding about 423,650 bitcoins as of Dec.
But crypto is making some progress among CFOs when it comes to the general level of acceptance. Notably, 11% of CFOs in the Q4 survey said bitcoin is a fraud, a significant decrease compared to previous CNBC CFO Council surveys where that question was asked.In 2017, 28% of CFOs said it was a fraud. In 2021, 19% said it was a fraud when asked the same question.
The quarterly CNBC CFO Council survey reflects a sampling of views from chief finance officers across the market and sectors, with 27 respondents included in the Q4 survey, conducted December 9–December 16., being one of the lone exceptions — despite bitcoin's price surge this year as well as its growing focus across the political landscape.
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