The leading cryptocurrency Bitcoin (BTC) is becoming increasingly popular among corporations. This likely follows Tesla's recent move to put $1.5 billion worth of Bitcoins (eight percent of their cash reserve) on their balance sheet. A recent survey confirmed the growing popularity of cryptocurrencies among companies. However, only a few CFOs are willing to allocate their cash reserves to invest in digital assets. Gartner, Inc, a leading research and advisory firm, conducted a survey in February to which 77 CFOs (including 50 CFOs) responded. 5 percent of CFOs allocate funds to BTC in 2021 According to the survey results, about 16 percent of CFOs showed interest in owning Bitcoin as a reserve asset. About five percent of all respondents plan to own the cryptocurrency this year as part of their organization's financial strategy. One percent want to join the trend in 2022 and 2023. Nine percent intend to bring Bitcoin onto their balance sheet in 2024 or later. Sixteen percent is a small number compared to the 84 percent of CFOs who are not ready to invest in cryptocurrencies. Most of these respondents cited BTC's volatility as the main reason why they don't plan to allocate funds in BTC. It would be extremely difficult to mitigate the kind of price volatility seen in cryptocurrency over the past five years. - Alexander Bant, head of research at Gartner, commented. Some have chosen to stay away from Bitcoin due to regulatory concerns, cyber risks, slow adoption as a means of payment, etc. Financial advisors will allocate funds to cryptocurrencies Interest in cryptocurrencies is also growing among financial advisors. A recent survey of 1,000 financial advisors in the U.S. found that two percent of them will allocate their clients' funds to Bitcoin in 2021. Nearly 50 percent had already done so last year. You can always check the current exchange rate of bitcoin and other cryptocurrencies at bitcoin.co.uk. Places where you can buy BTC and other coins include the BitBay.net cryptocurrency exchange. If you don't have an account on BitBay yet, this article will show you how you can create one efficiently: LINK. Tags survey bitcoin institutions corporations
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