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Bitcoin

We Don’t Intend To Invest Cash In Bitcoin

by Miki 10/08/2021
by Miki 10/08/2021 0 comment

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).

PepsiCo Chief Financial Officer: We Don't Intend To Invest Cash In Bitcoin

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 TradingView

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The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
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  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

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      11/12/2021

      Learn

      How to Trade Bitcoin Futures

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      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

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  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

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      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

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      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

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      Binance Trading Platform Licenses in Bahrain, Canada

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