BITCOIN

We don’t want to invest cash in Bitcoin


Recently, Bitcoin has been speaking again. But Hugh Johnson, PepsiCo’s influential CFO, made it clear that American corporate society would not grow by the tempting price of digital currency.

Moreover, he added that corporate America would not use the world’s major digital currency by leaving it on their balance sheets.

The reason for the disagreement over the use of Bitcoin

Although the public predicts that price increases will tempt more whale investors, Johnson said the opposite should happen. The high volatility of Bitcoin is in contrast to the desire of financial security firms to manage their assets.

Related Reading | New to Bitcoin? Learn to trade crypto through NewsBTC trading course

Undoubtedly, the lucrative movement of Bitcoin over the past few months has provided a tremendous financial advantage to non-conformist CEOs investing in BTC.

However, it is an important warning for conventional managers that they will fight for the important risks they share with buybacks, new plants, contingencies and funds saved for new opportunities.

Two CEOs who have recently leveraged Bitcoin

The rise of Bitcoin has now crossed a jackpot for two CEOs who have traded extensively in cryptocurrency. Elon Musk (CEO of Tesla Motors) and Michael Siller (CEO of Micro Strategy).

BTC is trading in an upward trend | Source: BTC/USD on TradingView.com

After struggling for about, 42,974 a week following China’s crypto ban, BTC jumped 24.164%. Its price reached 54,600, the second highest price record since May 12, 2021.

Related Reading | The mine returns a huge sum of 7,626 etherium sent incorrectly by Bitfinex

Currently, those tokens are worth more than 30 830,000,000-which is close to an 85% increase from pre-tax revenue in the first half of 2021.

Where the potential profit on the 109,000 BTC portfolio of micro-strategies increased to more than 1.5 1.5 billion, giving an overall of $ 3.1 billion. However, the company made a loss of more than 9 409 million in pre-tax in the first two quarters of 2021.

Featured Image by Pexels - Charts by TradingView



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