Only recently has Bitcoin gone up again. But the influential chief financial officer of PepsiCo – Hugh Johnson, clearly stated that the corporate community in America will not be inflated by the tempting rise in the price of digital currency.
Moreover, he added that US companies will not indulge in the world’s leading digital currency by putting it on their balance sheets.
Hugh’s reasons for not agreeing to use Bitcoin
Although audiences are predicting that a price increase will attract more whale investors, Johnson reports that the opposite is true. The high speculation of Bitcoin is in contrast to the desires of financial security companies to handle their assets.
Related reading | New to Bitcoin? Learn How to Trade Cryptocurrencies with NewsBTC Trading Course
Undeniably, Bitcoin’s attractive moves over the past few months have provided a massive financial advantage to non-conforming CEOs who have invested in BTC.
However, it is also a warning to traditional managers of the great risks they may take with money saved for stock buybacks, new plants, contingencies, and the acquisition of new opportunities.
Two CEOs Who Benefited From Bitcoin Lately
The Bitcoin boom has now outpaced the jackpots of two CEOs who have traded extensively on the cryptocurrency. Elon Musk (CEO of Tesla Motors) and Michael Saylor (CEO of MicroStategy).
BTC is trading in an upward trend | Source: BTC/USD on TradingView.com
After struggling around $42,974 in the week following the crypto ban in China, BTC is up 24.164%. Its price reached $54,600, the second all-time high since May 12, 2021. Tesla’s 42,000 BTC Tokens catalyzed by more than $630,000,000.
Related reading | The miner has refunded the gigantic amount of 7,626 Ethereum that Bitfinex sent by mistake
Currently, these coins are on an upward trajectory of more than $830,000,000 – an approximately 85% increase in pre-tax income over the first half of 2021.
While MicroStrategy’s potential earnings in its 109,000 BTC portfolio rose by more than $1.5 billion, giving a total of $3.1 billion. However, the company lost more than $409 million before taxes during the first two quarters of 2021.
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