30 Percent of CFOs Still Call Bitcoin a Bubble: CNBC Survey

[minerich]

While the general talk of Bitcoin being in a bubble seems to be deflating among those who are in the market, there is still a strong feeling that it could pop with the institutionalized CFOs of a number of key companies. Of those that did almost 30 percent of them said they believed that Bitcoin is ‘real’ but in a bubble.

In the survey, 14 percent of the CFOs stated they believe Bitcoin is "real and still going higher.". When it comes to institutionalized money, as well as companies who operate in the traditional money market, there is still a great divide on the opinion of Bitcoin.

Recent hurdles, such as the canceling of SegWit2x and Bitcoin Cash’s rally, have not slowed down Bitcoin’s rise and even on the altcoin space, huge steps are being made into traditional companies. In fact, Ripple recently partnered with the likes of AMEX and Santander, which saw that digital currency's value rise almost 25 percent.

"If a hypothetical customer comes to us and says, 'I have a bunch of Bitcoins to buy your products,' first thing I'll probably want to do is not turn them away but probably find a way to sell those Bitcoins before I commit to the order and then really make sure we meet the needs of that customer.". From Overstock.com, whose CEO, Patrick Byrne has said: “The disparity between virtually no merchant acceptance and Bitcoin’s rapid appreciation is striking," to Mastercard CEO, Ajay Banga, who calls it ‘junk,’ the opinions vary.

https://cointelegraph.com/news/30-percent-of-cfos-still-call-bitcoin-a-bubble-cnbc-survey

[davis196]

That`s why we need more big companies to adopt bitcoin payments.Bitcoin remains only as "digital gold" and people buy it just to wait and sell it later for profit.If this situation remains,i`m sure 90% of the CFO will soon call bitcoin a "bubble",and they will be right.The mass btc adoption we all are waiting for just can`t happen.Something is stopping the process-price volatility,slow confirmaiton time,hard forks...
I don`t know how the bitcoin community will solve this issue.The miners don`t care about this.They care only about their revenue.

[BitcoinHodler]

JP Morgan CEO also called bitcoin fraud

if we start listening to what these people say about the only thing that is threatening their business then we have lost the battle ourselves. of course they would call bitcoin bubble, fraud, ... they are scared of it. and many of them don't even understand how it works but still they give opinion about what they don't understand and pretend to be experts in it!

[kueyen]

Can't say I'm shocked. It's no wonder that representatives of the establishment do not feel warmth towards a development which may disrupt existing business models.

[iamTom123]

That`s why we need more big companies to adopt bitcoin payments.Bitcoin remains only as "digital gold" and people buy it just to wait and sell it later for profit.If this situation remains,i`m sure 90% of the CFO will soon call bitcoin a "bubble",and they will be right.The mass btc adoption we all are waiting for just can`t happen.Something is stopping the process-price volatility, slow confirmation time,hard forks...I don`t know how the bitcoin community will solve this issue.The miners don`t care about this.They care only about their revenue.

Yes, it is not just actually the volatility that many merchants and end-consumers are worrying about but also the time it can take for a transaction to get validated. There is still a big scaling problem with Bitcoin and this is the very reason why we always hear about forks or upgrades so that the network can be able to handle more transactions faster. Until this issue is not firmly resolved, Bitcoin will be known more as the digital gold or a store of value which by the way is not bad at all. Nobody is questioning the value of the physical gold even if I still have to see someone bringing his gold to buy in the grocery store. We should also acknowledge that Bitcoin is still relatively young and in comparison with big names in the corporate world many of them took many decades before getting the big breakthrough they need in penetrating the global market. Sometimes we are also getting so hard with Bitcoin that we forget to take a better perspective.

[hasmukh_rawal]

Even Warren Buffett calls Bitcoin a bubble and it will pop at some point of time but that doesn't people form investing in BTC.
As long as people are investing in BTC it wont stop from growing. Whether or not BTC is a bubble, it will still rise until it hits $100k
Bitcoin is being used by not more than 10% of the world population and is slowly gaining popularity in the community.
Once many users start using BTC it will rise in a rapid speed and then might have chances to fall down.

[harrypotter1229]

I have to say, now bitcoin really has a lot of bubbles. The value of bitcoin has been recognized by many people, but let bitcoin and practical applications together need a lot of time, but also need to do a lot of work to promote. Now more than 90% people are concerned about investment returns

[daivo01]

Not only Bitcoin, it is crazing to cryptocurrency and every one only say about price and change to earn money. It is very difficult to explain about bitcoin and other cryptocurrency to apply to real life. We can hear about ATM and BTC acceptable location but with volatility price of BTC and other cryptocurrency who will already to use them to buy things? or they always think about most expensive Pizza bought by BTC. I think all will go to BIG-BANG and all thing will be reset as dot.com bubble. But when and how big is market Cap?

[Icaxx]

I still dont understand why they have opinion that bitcoin is bubble?? Is this cause the scared of bitcoin and the make complicated news to make bitcoin down??
But i always said that bitcoin is not bubble or fraud.

[soham]

I still dont understand why they have opinion that bitcoin is bubble?? Is this cause the scared of bitcoin and the make complicated news to make bitcoin down??
But i always said that bitcoin is not bubble or fraud.

Exactly so! Bitcoin has outrun any other investment asset class in the last year and most of the CFOs from the organized financial sector is seeing bitcoin as a big threat to their business. Since they don't have power to control the bitcoin price or growth in any way, they are just trying to discourage people with their false statement.

This trend was started by the JPM CEO, carried forward by UBS chief, followed by Mr. Buffet. And let me assure you that, we will see such negative comments in future as well. So the faster you will start ignoring them, the better.

[salihno71]

Somehow i have the feeling that this is nothing more than the anger  because they missed the "get very rich very quick" moment. It is without a doubt that currently prices are rising due to all the hype. Surely it will eventually stop and we will probably see some correction. But the price after that will still be much higher from what is today.

[amila_cs]

Remember what JP Morgan did, called bitcoin a fraud and then when the price dipped he bought more bitcoins. Never trust those cooperate guys

[BrewMaster]

it is funny that each time someone calls bitcoin a bubble the price continues rising a little afterwards. and right now there is another rally going on which will probably last until a big new ATH of $9000 is set and then by the end of the year when the $10,000 resistance was broken and we enter the 5 digits price, it will be no stopping bitcoin anymore.
the media coverage is going to be crazy which leads to even bigger adoption and bigger rise.

[warrior333]

Why bitcoin ask the Directors of large companies? How are they related to the cryptocurrency market? Now everyone is trying to earn popularity on the subject of bitcoin. But none of them is an authority in this area. Bitcoin has its own strategy and no one knows. The big players can have short-term impact on the price of bitcoin, but then bitcoin will always return to their positions.

[C10H15N]

Any time the corporate buffoons speak - do the exact opposite (do what they do, not what they say).

[Nilda]

Those CFOs have tons of money to spare. Some of them probably have invested in bitcoins, anonymously of course. Because the bubble is still far from bursting, there's still a lot time to invest and make a profit.

[scottykarate]

Most of these CFOs fear the impact to their bottom line and backdoor deals with banks and such. They will continue their assault and try their best to minimize crypto.

People tend to distrust CEOs, CFOs and any officer in most corporations, so the tactic may eventually backfire. Hopefully it does and hopefully they feel the pain.

[farhaan]

Why bitcoin ask the Directors of large companies? How are they related to the cryptocurrency market? Now everyone is trying to earn popularity on the subject of bitcoin. But none of them is an authority in this area. Bitcoin has its own strategy and no one knows. The big players can have short-term impact on the price of bitcoin, but then bitcoin will always return to their positions.

That's the greatest mistake most of us do is ready to hear the opinion of these people.Just we are increasing the value of their words.Bitcoin is not in need of any certificate from any one.It has already proved its potential.CFOs belonging to financial institutions would mostly criticize bitcoin as we could understand that it is their rival.So,nothing surprise in it.

[Xavofat]

Can we please start distinguishing between Bitcoin being in a bubble and Bitcoin being a poor idea?

The article is coming from an openly biased perspective, and it's comparing these CFOs to Jamie Dimon.  The subjective view that Bitcoin is in a bubble is completely different to the objectively wrong view that Bitcoin is a Ponzi scheme or "fraud".  

What's equally ridiculous is how whenever rich people support BTC we think that all rich people are lovely and they're investing in BTC while when a new poll comes along suggesting that they're not so supportive, we think that they're all bastards.  Can't they just be individuals rather than be reduced to their class every time?

[arseaboy]

Can we please start distinguishing between Bitcoin being in a bubble and Bitcoin being a poor idea?

The article is coming from an openly biased perspective, and it's comparing these CFOs to Jamie Dimon.  The subjective view that Bitcoin is in a bubble is completely different to the objectively wrong view that Bitcoin is a Ponzi scheme or "fraud".  

What's equally ridiculous is how whenever rich people support BTC we think that all rich people are lovely and they're investing in BTC while when a new poll comes along suggesting that they're not so supportive, we think that they're all bastards.  Can't they just be individuals rather than be reduced to their class every time?

that's the good interpretation of something that really affect each others view, everything is just an assessment of those individuals who have its own
opinion about how this industry grows that fast its just according to what they knew about this system and we can deny the fact that we still needed
to help this industry bringing more idealistic usage of this system.