Microsoft President Brad Smith has not entirely ruled out that the company will invest in Bitcoin at some point.
Microsoft, the second largest company in the United States, does not appear to have any plans to invest in Bitcoin ( BTC ) in the short term , according to company president Brad Smith.
In an interview with CNN’s Julia Chatterley on February 16, Smith hinted that Microsoft might change its mind about investing in Bitcoin
When asked if Microsoft was talking about cryptocurrency diversification plans after Tesla’s $ 1.5 billion investment in Bitcoin , the Microsoft president said he was unaware of such discussions:
„I haven’t seen any new conversations about Bitcoin. But I’m just saying that if we change our investment policy on Bitcoin, you will be the first, or at least the second, to find out.“
Bitcoin’s market cap is in the process of overtaking the market caps of some of the largest American companies. As previously reported, Bitcoin market cap overtook Tesla’s (around $ 808 billion) shortly after the company announced its massive Bitcoin investment.
After Bitcoin’s historic spike to over $ 51,000 on February 17, 2021, Bitcoin’s market capitalization at press time is $ 948 billion
Bitcoin would have to double its market capitalization to match Microsoft’s market capitalization. At press time, this is $ 1.8 billion .
On February 12, JPMorgan Co-President Chase Daniel Pinto claimed that the company would have to get into Bitcoin at some point due to rising demand . JPMorgan strategists had previously argued that Tesla’s BTC purchase would not necessarily find many imitators due to Bitcoin’s high volatility .