Over 70 percent financial directors who took part in the company’s research Gartner, closely watches the Bitcoin market. The survey also showed that 5 percent. plans to buy cryptocurrencies in 2021.
Gartner is researching the potential demand for Bitcoin from large companies
The survey on the opinion of financial directors showed that 5 percent. companies intend to invest in Bitcoin (BTC) this year, and 11 percent. it says it can do so later, by 2024.
The survey was inspired by the news that Tesla had invested $ 1.5 billion of its cash reserve in Bitcoin. MicroStrategy Inc., in turn, announced on Tuesday a bond issue worth USD 600 million. The purpose of collecting funds is to purchase additional Bitcoins later.
However, 77 respondents, including 50 CFOs, showed very divergent views on BTC. Much depended on the industry in which the company operates. For example, the technology sector has shown the greatest openness to cryptocurrencies. As much as 50 percent respondents from this market anticipate buying BTC in the future.
Most of the respondents – as much as 84 percent. – concluded that their main investment concerns revolve around the risks arising from the high volatility of Bitcoin. Even so, it also seems that many of these people are taking a ‘wait and see how the market develops ”.
Risk not accepted
Gartner’s head of research, Alexander Bant, noted that “Financial leaders tasked with ensuring financial stability are not inclined to make speculative leaps into unknown territory.”
– Keep in mind that this is an emerging phenomenon in a long timeline of corporate assets. Financial leaders tasked with ensuring financial stability are not prone to speculative leaps into unknown territory – He said.
Other concerns expressed about investing in BTC include: board aversion to risk (39%), slow adoption of BTC as an accepted form of payment or exchange (38%), lack of understanding (30%), cyberthreats (25%) and complex accounting approach (18%).
What does this research show? The technology sector alone could invest around $ 640 billion in BTC. Currently, only a small part of these companies have allocated money to buy BTC. So it is possible that we are actually only at the first stage of institutional cryptocurrency adoption.