Bitcoin [BTC], the world’s first and the largest cryptocurrency in the world has found shelter in major platforms over the last two years. PepsiCo, however, made it clear that it wasn’t ready to harbor Bitcoin and it would do so only after a really long time.
The achievements of the crypto-verse over the last year cannot be shunned. The upward trajectory that the industry was, in terms of both value and adoption rate, was commended by the entire world. The industry noted a swift and incredible move from the nascent stage. With the popularity of the market rising by the day, several platforms also recognized the value that crypto-assets hold. Therefore, these assets went on to be a part of major companies across various industries.
Even though many suggest that crypto is the future, an array of platforms and countries remain detached from the industry. PepsiCo moderately falls into this category.
PepsiCo CFO talks Bitcoin
Appearing in an interview with CNBC’s Squawk Box, Hugh Johnson, the chief financial officer and Vice Chairman of PepsiCo, spoke about Bitcoin. While major firms have started to jump onto the Bitcoin bandwagon, the question of why PepsiCo still hasn’t arisen. Johnson outrightly suggests that he could not imagine the company purchasing BTC.
Despite noting that he was a “never say never” sort of a person, Johnson couldn’t bring himself to think that his company would pour its money into BTC. The reason behind this was simple.
The crypto industry has constantly been put off by many for its volatile nature. While it’s no secret that Bitcoin is volatile, an array of people continue to sit on the fence over this. The CFO pointed out the volatile and speculative nature of the king coin.
He stated,
“I’ve learned over time never to say never … #bitcoin to me is still too volatile and still too speculative. I think it will be an awfully long time before #bitcoin becomes a functional currency for us,”
While several platforms that now openly embrace Bitcoin have said the same things earlier, the chances of PepsiCo deciding to get on to the BTC bandwagon weren’t nullified.