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