PepsiCo CFO calls bitcoin too volatile and speculative asset

PepsiCo CFO calls bitcoin too volatile and speculative asset

The CFO of soft drink manufacturer PepsiCo, Hugh Johnston, called the first cryptocurrency "still too volatile and overly speculative" in an interview with CNBC.

"I've learned over time never to say never ... #bitcoin to me is still too volatile and still too speculative. I think it will be an awfully long time before #bitcoin becomes a functional currency for us," says @PepsiCo CFO @hughjohnston $PEP

According to Johnston, it is unlikely that PepsiCo will invest in bitcoin in the future. However, he added that "it's never a good idea to say never".

"I think it will be an awful long time before bitcoin becomes a functional currency for us," stressed PepsiCo's CFO.

Johnston also expressed misgivings about digital assets due to regulatory bias.

Recall that PayPal, Starbucks, airBaltic, Pavilions Hotels & Resorts, AXA and others have already started accepting bitcoin as payment.

Earlier, SEC chief Gary Gensler said that the regulator has no plans to ban cryptocurrencies. He also called it the prerogative of Congress.

Soros Fund Management CEO Don Fitzpatrick has confirmed that billionaire George Soros' family office has invested in bitcoin.


5capital doesn't offer fee-free trading. However, its fees are low compared with even the best crypto exchanges that charge fees and commission.

5capital

Related Posts

Suspected masterminds of $62m cryptocurrency laundering scheme detained in Australia

Centre consortium launches USDC stablcoin on Hedera Hashgraph blockchain

Morgan Stanley chief says clients have little interest in bitcoin

Vatican criticises role of cryptocurrencies in illegal migration