PepsiCo Chief Financial Officer Isn’t Sure About Investing Cash in Bitcoin
The recent weeks once more have experienced price hikes regarding the Bitcoin market price. As Bitcoin’s market price is one more on the rise it has been an enticing development for the private and institutional investors. But PepsiCo’s Chief Financial Officer is not sure about making any sort of investments in Bitcoin or any other digital asset.
Hugh Johnson the influential CFO of PepsiCo, however, has remained unmoved about these developments. He clearly stated that America’s corporate society, especially PepsiCo will not get carried away by the glittering shine of cryptocurrency. He further added that PepsiCo is very much clear that the company would not be blinded by the seductive price hikes of the digital currency.
He did not stop there, he further opened up on the issue by saying that PepsiCo does not have any plans to add the world’s most prestigious digital currency to its balance sheet any soon in the future.
It seems that Hugh has his own philosophy preventing companies from entering the crypto landscape. He added that the current price hike without the shadow of any doubt has gained interest from some of the whale investors. But the financial indicators clearly suggest that the current price hike is against the run of play and Bitcoin price would soon crash. According to Hugh Johnson, investing in crypto is never safe for those corporate tycoons looking for long-term growth and financial stability.
The current financial scenario does not allow corporate business organizations to suffer from the volatile nature of the digital market.
However, Hugh also agreed to the fact that the recent price surge in Bitcoin has benefited a relatively increased number of corporate CEOs who have invested in Bitcoin. However, it is also an alarming situation for those business leaders who adopt the conventional approach to keep their reserves intact to invest in the stock market and Hugh Johnson is one of them.
PepsiCo’s business philosophy is rather simple, the company strives to maintain long-term financial and social sustainability rather than focusing on massive profits in a shorter period of time and exposing the company against the vulnerabilities in a longer period of time. However, on the other hand, there are some of the world’s renowned CEOs who have actively participated in the digital market and enjoyed massive gains. Some of those names are: Elon Musk (CEO of Tesla Motors) and Michael Saylor (CEO of MicroStategy), moreover institutes like JP Chase Morgan, Goldman and Sachs, and Amazon has recently hinted to enter the crypto market. As of this writing, it seems that U.S corporate market leaders seem to have a divided opinion on investing in crypto.
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Text source: Coinfrog
