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PepsiCo not enticed to invest in Bitcoin, says exec
PepsiCo Chief Financial Officer Hugh Johnson said that America’s corporate society wouldn’t be enticed to invest in Bitcoin for its seductive price appreciation.
Johnson added that Bitcoin's high speculativeness is a contrast to financial safety.
He made the statements in reaction to the prediction that the price increase will lure more whale investors.
Bitcoin's price surged $54,600, the second-highest price record since May 12, 2021, after struggling at around $42,974 the week following China’s cryptocurrency ban.
Bitcoin investors Tesla CEO Elon Musk and MicroStategy CEO Michael Saylor are benefitting from ’the cryptocurrency's upsurge.
The price of Tesla’s 42,000 BTC tokens has now soared in value by over $630,000,000, while MicroStrategy’s portfolio of 109,000 BTC jumped by over $1.5 billion, giving an overall amount of $3.1 billion.
However, conventional managers find it risky to allocate on Bitcoin instead of saving the money for new plants, contingencies, share buybacks, and acquiring new opportunities.