In an interview with CNN’s Julia Chatterley yesterday, Microsoft’s president, Brad Smith, explained that their company has yet to have any discussions about putting Bitcoin on its balance sheets.
Microsoft is one of the second largest companies in the United States, and it is a concern why such an esteem organization is dilly dally on virtual investments.
When questioned by Julia on the matter, Brad Smith replied
“I haven’t heard any new conversations about Bitcoin, but let me just say, if we change our investment policy on Bitcoin, you will be the first (at least the second) to know…I’ll let you know right away.”
His reply seemingly left the door open for future deliberations.
High-End Institutions Rush for Crypto Investments
Several major institutions- most recently- Tesla, have been on the move to purchase as many cryptocurrencies as they can. Last week, Tesla announced a $1.5 billion Bitcoin bet.
A few years ago, organizations were completely adamant about digital assets investment. The deal in terms of profits looked too good to be true, and the market volatility set the downsides for the loss even more intolerable.
Years later, the industry has proven itself worthwhile, and companies are listening. As opposed to blatantly rejecting the idea of virtual investments, corporations are keeping an open mind about the trend without revealing specific details.
Twitter CEO Jack Dorsey has been vigilant on crypto assets. He already has bought a bunch of assets for Twitter and his other company, Square. As for now, the social media giant is contemplating adding Bitcoin to its balance sheet.
What it means for an organization to add BTC to its Balance sheet
When global interest in the field of blockchain picked three years ago, the market saw a shift of investors rushing for a piece of the pie without necessarily understanding what its future would be.
Cryptocurrencies are now a household term.
When covid struck last year, the US Federal Reserve expanded its balance sheet by more than 75% while the treasury accumulated $3.7 trillion in debt. Such massive inflation in fiat raised questions on its sustainability in the market. Investors are now seeking a more controlled financial system that hedges against similar inflations.