• Fri. Jun 21st, 2024

Gartner Finance’s Bitcoin Survey Reveals Contrary Findings Against The New Norm

Feb 18, 2021

Analysts at Gartner Finance suggest that a large number of finance managers across the globe are not looking forward to acquire Bitcoin as a tangible asset suitable for business purposes. The findings were based on the poll conducted wherein finance leaders from different parts of the world were interviewed and asked to render thoughts on Bitcoin as a palpable asset. The financial leaders think that due to the volatility pertaining to Bitcoin, they find it extremely hard to mitigate.

According to the recent survey conducted by Gartner Finance it has been revealed that global financial leaders do not regard Bitcoin as a tangible asset. Particularly, they do not consider Bitcoin as an asset that could be suitable for business purposes. The reason being told was the “presence of volatility by default” which has kept them away from mitigating Bitcoin as a corporate asset.

The survey was concluded by interviewing at least 77 managers from the field of finance. The finding contained in the survey are extremely contrary to what has been propagated a lot these days. The new norm is that there are several investors from institutional quarters who want to join the Bitcoin bandwagon. They want to actually follow the footsteps of their counterparts such as Microstrategy, Square, Telsa etc.

The three companies namely Microstrategy, Square, and Telsa were amongst those prominent ones which invested unequivocally into Bitcoin.

Alexander Bant, one of the members of the editing/compilation team of the research survey, also issued a statement on behalf of Gartner Finance.

In his statement, Bant suggested that 84% of the finance managers were of the view that Bitcoin is a risky business. They were of the view that due to its unstable nature they found it really difficult to consider Bitcoin as part of an asset class. To them, Bitcoin is not a palpable asset that could at least be called a tangible and/or corporate asset. Apart from the volatility, the global finance managers also pointed out several other concerns.

The survey also revealed that there were at least 39% person who did not agree with the acquisition of Bitcoin as the new norm.

Yet the observations contained in the survey also suggested that with the passage of time, the opinions of top financial leaders might change. The reason being that companies such as Microstrategy and Tesla were able to increase their market cap exponentially within no time.

Notably, the survey reported that most of them are willing to learn in great deal about Bitcoin and its benefits. 71% of them said specifically that they are interested in knowing what more institutions would be doing with Bitcoin. Are they just holding it or using it for other purposes as well, they asked.

The survey also transpired that only 16% of the finance managers were interested in inducting Bitcoin into their businesses to whom they represented.

However, the findings were found to be shocking for the crypto industry which has also agitated their concerns over it.

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