According to company president Brad Smith, Microsoft, the second largest in the United States, does not appear to have short-term plans to include bitcoin (BTC) on its balance sheet.
In a Feb 16 interview with Julia Chatterley on CNN, Smith also suggested that Microsoft may still change its mind about investing in bitcoin.
When asked if Microsoft had discussed any plans to diversify cryptocurrencies after Tesla invested $ 1.5 billion in Bitcoin, the Microsoft chief said he was not aware of such discussions:
“I haven’t heard any new talk about Bitcoin. But let me just say that if we change our Bitcoin investment policy, Julia, she will be the first, or at least the second, to know. ”
Bitcoin’s market value will be higher if it joins some of the largest US companies. As previously reported, Bitcoin’s market cap surpassed Tesla’s value to around $ 808 billion shortly after the company announced its massive investment in Bitcoin.
Following Bitcoin’s historic stride to reach over $ 51,000 on February 17, 2021, Bitcoin’s market cap is at $ 948 billion at the time of writing. Bitcoin should double its market cap to $ 1.8 billion for Microsoft at press time.
The market value of Bitcoin compared to large companies. Source: AssetDash
On February 12, Daniel Pinto, co-president of JPMorgan Chase, said the company would eventually have to participate in bitcoin due to increased demand. Previously, JPMorgan strategists argued that buying BTC from Tesla would not necessarily lead to such an investment due to the high volatility of Bitcoin.