PepsiCo Chief Financial Officer: We Don’t Intend To Invest Cash In Bitcoin
October 08 2021 - 07:44AM
NEWSBTC
Just recently, Bitcoin has been spiking again. But the influential
CFO of PepsiCo – Hugh Johnson, clearly stated that America’s
corporate society wouldn’t bulge by the digital currency’s
seductive price appreciation. Moreover, he added that corporate
America wouldn’t indulge the world’s lead digital currency by
putting it on their balance sheets. Hugh’s Reasons For Disagreeing
With Utilizing Bitcoin Although the masses predict that the price
increase will entice more whale investors, Johnson informed that
the contrary should be the case. Bitcoin’s high speculativeness is
a contrast to the financial safety companies’ desires to handle
their assets. Related Reading | New To Bitcoin? Learn To Trade
Crypto With The NewsBTC Trading Course Undeniably, Bitcoin’s
alluring movements within the past few months provided a tremendous
financial advantage to non-conformist CEOs who invested in BTC.
However, it is also a warning to conventional managers of the
significant risks they’d batter with funds saved for share
buybacks, new plants, contingencies, and acquiring new
opportunities. Two CEOs Who Leveraged Bitcoin Recently Bitcoin’s
upsurge has currently surmounted a jackpot for the two CEOs who
traded massively on the cryptocurrency. Elon Musk (CEO of Tesla
Motors) and Michael Saylor (CEO of MicroStategy). BTC is trading in
an upward trend | Source: BTC/USD on TradingView.com After
struggling at around $42,974 the week succeeding China’s crypto
ban, BTC skyrocketed 24.164%. Its price reached $54,600, the
second-highest price record since May 12, 2021. Tesla’s 42,000 BTC
tokens spurred by over $630,000,000. Related Reading | Miner
Refunds The Giant Sum Of 7,626 Ethereum Mistakenly Sent By Bitfinex
Currently, those tokens are at a bullish course of over
$830,000,000 – which is close to an 85% increase from the pre-tax
income during the first half of 2021. Whereas MicroStrategy’s
potential profits on its portfolio of 109,000 BTC spiked by over
$1.5 billion, giving an overall amount of $3.1 billion. However,
the company had lost over $409 million in pre-tax within the first
two quarters of 2021. Featured Image by Pexels - Charts by
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