5% of CFO Plan to Buy Bitcoin in 2021, The Currency Will Spike

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5% of CFO Plan to Buy Bitcoin in 2021, The Currency Will Spike

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A survey conducted by Gartner revealed that 5% of Financial executives intend to buy bitcoin in 2021.

More than 70% of financial executives depicted interest in the currency. They are keenly observing what other companies are doing with bitcoin before investing their cash in it. They had fragmented views on bitcoin depending on their industry of work. However, 5% are ready to buy bitcoin in 2021. Whereas, the additional 11% might be able to do so by 2024.

Also Read: Bitcoin Hits $50K for the First Time In History

Gartner’s survey gives us a view of how the corporate sector intends to deal with bitcoin. Recently, Tesla revealed its investment of 8% of the companies’ cash in bitcoin. Besides, MicroStrategy Inc. announced the convertible bond offering worth $600 million on Tuesday. The proceeds of it will be used for buying more bitcoin.

Last year, the most successful trader of our time Paul Tudor Jones, said that he is buying bitcoin as the currency is a hedge against the risk posed by inflation. Furthermore, Wall Street investors and institutions are ready to buy bitcoin in 2021.

Buy Bitcoin In 2021:

Bitcoin achieved the historic milestone of 50,000 dollars yesterday. Today, it is going beyond that. With all the support and confidence reposed in BTC, the coin is ready to make a splash in the coming years.

The best time to buy bitcoin was back in 2008. The second best time is in 2021. Governments around the world are seeking to regulate bitcoin. It is an excellent store of value in term of divisibility, fungibility and portability. No central authority can inflate it.

The respondents of Gartner survey were sceptical about the bitcoin’s volatility. Nonetheless, with more players in the crypto arena, the volatility of the market will eventually settle down.

50,000 dollar seems the new normal for bitcoin in 2021. We will expect its price to keep going up from this point onwards.

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