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.
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.