No Immediate Plans To Invest In Bitcoin – Microsoft President
- The president of Microsoft says Microsoft isn’t considering diversifying their business interests into Bitcoin anytime soon.
- The announcement became necessary when there were reports in early February that Tesla had invested in Bitcoin.
- Other companies won’t mind investing in Bitcoin.
When Tesla announced that they had invested $1.5 billion in Bitcoin, it led to various discourses regarding the next top corporate body that will also invest in Bitcoin. Most CEOs and CFOs of famous companies and even less popular ones were being asked whether their companies will also be Bitcoin’s next top corporate investor. Microsoft’s president, Bradford Lee Smith, is the most recent executive to be questioned in this regard. Microsoft is arguably the best multinational technology company out of the United States of America.
Microsoft’s immediate investment plan has nothing to do with Bitcoin.
One of the questions Julia Chatterley asked Bradford Lee Smith when she interviewed him on February 16 was whether the leading tech company is deliberating on including Bitcoin in its company’s balance sheet, similar to Elon Musk’s Tesla company.
But Smith replied, saying Microsoft isn’t considering to be one of Bitcoin’s corporate investors or adding Bitcoin as a reserve asset for the company.
However, the Microsoft president remarked that should Microsoft reverse their investment decision, CNN will be the first to know. Thus, it implies that the company might still give a shot at investing in Bitcoin.
Julia summed her interview with the Microsoft president with this tweet:
It is widely reported that Bitcoin’s market capitalization might overtake a few of the leading American companies. Other companies won’t mind investing in cryptocurrencies, especially Bitcoin, since their primary concern is to reduce any risk to their earnings.
Apart from disclosing that they made an investment of $1.5 billion in Bitcoin, Tesla also said that they plan to accept cryptocurrency payments for their electric cars soon.
Digital galaxy, CEO Mike Novogratz, and other experts opined that Tesla’s popularity and market valuation might force other companies to imitate the electric car giants.
One such company might be JPMorgan chase, whose co-president Daniel Pinto hinted that rising demand might make it compulsory for the company to be involved with Bitcoin. In his submission, Daniel pinto disagreed with mike Novogratz that lots of companies will toe the line of Tesla by investing in Bitcoin. He argued that Bitcoin’s volatility would make big corporate investors wary of investing in this leading cryptocurrency.
However, most people are mainly interested in the next top corporate body that will become part of the Bitcoin craze.
Can it be Twitter?
When CNBC’s “squawk box interviewed Ned Segal (Twitter’s Chief Financial Officer),” he remarked that Twitter would only add Bitcoin to their balance sheet if their vendors and employees continue to request to pay using that digital currency.
Since Twitter CEO Jack Dorsey is a big admirer of Bitcoin, it won’t be difficult for this social platform to invest in Bitcoin.
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