According to the company’s president, Brad Smith, Microsoft, the second-largest company in the US, has no short-term plan to put Bitcoin (BTC) on its balance sheet.
Ideas can change
In an interview with CNN’s Julia Chatterley on Feb. 16, Smith also hinted that Microsoft might change its mind about a Bitcoin investment.
When asked if Microsoft discussed any cryptocurrency diversification plans after Tesla’s $ 1.5 billion investment in Bitcoin, the Microsoft president said he was not aware of such discussions:
“I haven’t heard a new talk about Bitcoin. But let me say that if we change our investment policy on Bitcoin, Julia, you will be the first or at least the second person to learn. ”
Bitcoin’s market cap has surpassed some of the largest American companies. As previously reported, Bitcoin market cap exceeded Tesla’s value shortly after the company announced its massive Bitcoin investment.
Following the historical movement of bitcoin over $ 51,000 on February 17, 2021, the market value of Bitcoin is at $ 948 billion at the time of writing. Bitcoin needs to double its market value to reach Microsoft. Bitcoin will surpass Microsoft if it reaches $ 1.8 trillion.
On February 12, Daniel Pinto, co-chair of JPMorgan Chase, claimed that the company should eventually be included in Bitcoin due to increased demand.