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Microsoft president says “no new conversation” for investing in Bitcoin

bitcoin

TL;DR Breakdown

  • Microsoft is having no new talks on whether to invest in Bitcoin, according to the president.
  • The discussion comes amid news of Tesla’s investment in Bitcoin in early February.

Tesla’s announcement of $1.5 billion invested in the leading cryptocurrency, Bitcoin (BTC), is spurring discussions and questions on which major company will be the next big Bitcoin corporate investor. Many executives, including CEOs and CFOs of popular organizations, have been questioned on this matter, with the recent being Bradford Lee Smith, the president of Microsoft, one of the largest multinational technology companies based in the United States.

Microsoft: No immediate plans to invest in Bitcoin 

On the 16th of February, CNN’s Julia Chatterley interviewed Microsoft’s president, asking him if the technology company was considering adding Bitcoin to its balance sheet, just like Elon Musk’s electric car company did. Smith said Microsoft has no new conversation on investing in the leading cryptocurrency as a reserve asset. At least, the company hasn’t ruled out investing in Bitcoin, as the president did mention that he will inform CNN should Microsoft change their investment decision. 

Tesla invested $1.5 billion in Bitcoin on the 8th of February and also disclosed their plan to support payments for their electric cars in the cryptocurrency. Experts like Digital Galaxy CEO, Mike Novogratz, said many companies would follow suit, owing to Tesla’s popularity and market valuation. Many people are just so curious to know the next big company that will join the corporate Bitcoin bandwagon. 

Twitter may be next

In a recent interview with CNBC’s “Squawk Box,” the chief financial officer at Twitter, one of the popular social media platforms, mentioned that they might consider adding Bitcoin to their balance sheet when their vendors and employees start requesting payment in the digital currency. Investing in Bitcoin shouldn’t be a problem for Twitter, given that the CEO, Jack Dorsey, is already a big supporter of BTC

Ibiam Wayas

Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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