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Microsoft President Says No Plans to Put Cash into Bitcoin for Now

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Tue, 02/16/2021 - 18:57
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Alex Dovbnya
Microsoft President Brad Smith says no to Bitcoin for now
Microsoft President Says No Plans to Put Cash into Bitcoin for Now
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Microsoft President Brad Smith has told CNN’s Julia Chatterley that America’s second-largest company hasn't had any discussions about putting Bitcoin on its balance sheet.

Yet, Smith seemingly left the door open for cryptocurrency diversification:    

I haven’t heard any new conversations about Bitcoin, but let me just say, if we change our investment policy on Bitcoin, you will be the first (at least the second) to know…I’ll let you know right away.

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Who’s next?

Following Tesla’s $1.5 Bitcoin bet that was announced last week, the CEOs of major corporations are being inundated with questions about potentially following the e-car manufacturer’s suit.

So far, most companies have either blatantly rejected the idea or kept an open mind about it without revealing any specific plans.

With Jack Dorsey at the helm, social media giant Twitter has already done a lot of “upfront thinking” about adding Bitcoin to its balance sheet, emerging as the next most likely major corporate player to make such a move.

Anyone who owns an S&P 500 index fund now has exposure to Bitcoin, but the lingering question is what S&P 500 company is going to be next.

In its report, RBC Capital Markets suggested that Apple, the most valuable U.S. company, could be the next big player to invest in Bitcoin.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.