Survey: CFOs Think Bitcoin Is 'Real' But Are Divided on Price

A group of CFOs polled by CNBC are split on whether bitcoin is a bubble, according to newly published results.

AccessTimeIconNov 22, 2017 at 7:00 a.m. UTC
Updated Sep 13, 2021 at 7:11 a.m. UTC

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:

“It's not a currency we are using for a multibillion dollar business … it's something we are curious about, we are very very open to, but we haven't found a way to really integrate it into our business.”

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


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

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; 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 employees, including journalists, may receive options in the Bullish group as part of their compensation.