Chief financial officers (CFOs) around the world seem to distrust bitcoin, according to a CNBC survey published Tuesday.
CNBC received 43 responses from their Global CFO Council to a survey about their views bitcoin, with 12 of these respondents stating that it was “real but in a bubble,” and a further six saying it was “real and still going higher,” according to their results.
Another 12 respondents said they believe bitcoin is a fraud, with the remainder responding that they do not know enough about the cryptocurrency to say anything.
More CFOs in Europe, the Middle East and Africa think bitcoin is in a bubble than in the United States or the Asia-Pacific regions, according to the survey. Similarly, more CFOs in the former areas responded with the “fraud” moniker.
Roughly 21% of American CFOs think bitcoin is in a bubble, compared to about 29% in the Asia-Pacific area.
One of the CFOs on CNBC’s council, Solvay executive Karim Hajjar, said he was unsure about bitcoin.
He told CNBC:
Solvay would have to establish how to sell bitcoin before they would allow a customer to conduct a transaction using it, he said.
CNBC’s results somewhat echo a survey of institutional traders conducted by brokerage firm Triad Securities and Datatrek Research published last week. In that survey, 39% of respondents think bitcoin is in a bubble, with a further 27% saying its price increase would slow down.
Digital survey image via Shutterstock
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.