Some of the leading CFOs have dramatically changed their views on Bitcoin, but that's not enough
According to the recently published CNBC CFO Council quarterly survey, 78% of chief financial officers (CFOs) continue to view Bitcoin as a highly speculative investment.
Unfortunately for Bitcoin advocates, only a minuscule 7% of CFOs view the leading cryptocurrency as a store of value.
Despite the fact that the cryptocurrency achieved impressive institutional acceptance milestones this year with the launch of exchange-traded funds (ETFs), 11% of the surveyed CFOs are still convinced that Bitcoin is a fraud. However, this is still significant progress compared to 2017. Back then, nearly a third of all CFOs viewed the largest cryptocurrency as a fraud, according to the same survey.
In addition, very few CFOs (only 4%) have no view of Bitcoin, which highlights how mainstream the cryptocurrency has become.
However, corporate Bitcoin adoption remains in its early innings, with very few non-crypto companies having exposure to the leading cryptocurrency.