Bitcoin

Microsoft has no plans to add Bitcoin to its balance like Tesla, its president says

Microsoft, the second largest company in the United States, would have no short-term plans to add Bitcoin (BTC) to its balance sheet, according to the company’s president, Brad Smith.

In one interview February 16 with Julia Chatterley from CNN, Smith still hinted that Microsoft might still change its mind about investing in Bitcoin.

When asked if Microsoft is discussing a plan to diversify cryptocurrency after Tesla invested $ 1.5 billion in Bitcoin The chairman of Microsoft said he was not familiar with such discussions::

“I haven’t heard any new conversations about Bitcoin. But let me tell you, if you change our investment policy to Bitcoin, Julia, you will be the first, or at least the second, to find out about it. “

Microsoft has no plans to add Bitcoin to its balance like Tesla, its president says
Microsoft has no plans to add Bitcoin to its balance like Tesla, its president says

Bitcoin’s market cap is gradually increasing to outperform some of the largest American companies. As previously reported, Bitcoin’s market cap exceeded that of Tesla by around $ 808 billion Shortly after the company announced its massive investment in Bitcoin.

After Bitcoin’s historic move to break above $ 51,000 on February 17, 2021Bitcoin’s market cap is $ 948 billion at the time of writing. Bitcoin would have to double its market capitalization to catch up with MicrosoftThat’s $ 1.8 billion at press time.

Bitcoin market capitalization compared to large companies. Source: AssetDash

On February 12th, JPMorgan Chase became Co-Chairman, Daniel Pinto claimed that due to the growing demand, the company must be involved in Bitcoin at some point. Previously, JPMorgan strategists argued that buying Tesla’s BTC won’t necessarily trigger a ton of similar investments due to the high volatility of Bitcoin.

Similar Posts