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马斯克把比特币当现金花,其他公司高管为何不跟风?

马斯克把比特币当现金花,其他公司高管为何不跟风?

Shawn Tully 2021年02月20日
美国公司对比特币的好奇心与日俱增,追随马斯克持有比特币的小趋势或许正在形成当中。

近几年来,推动比特币(Bitcoin)这种主要加密货币止跌反弹的最大新闻,当属埃隆•马斯克宣布他已经购买了价值15亿美元的比特币,并将其纳入了特斯拉(Tesla)的公司现金池。然而,马斯克大胆押注比特币,并没有鼓舞向来谨慎的美国公司首席财务官们跟进。Gartner Finance在2月初的一项调查发现,95%的受访者没有在今年购买比特币的打算。Gartner Finance隶属于全球一流市场研究与咨询服务提供商Gartner公司(Gartner, Inc.)。Gartner Finance的研究业务负责人亚历山大•班特说:“公司财务主管的职责是保证财务稳定,他们不会轻易投机未知领域。”

Gartner调查了77家公司的财务主管,包括50位首席财务官,这些公司的市值从2,500万美元到300亿美元不等。调查中询问了首席财务官、财务总监和公司出纳,他们是否计划今年或未来在公司现金池中“持有”比特币。“持有”比特币意味着出于与马斯克一样的理由使用比特币,即将现金来源多样化,并将除了购买办公用品和支付债务利息的日常周转资本以外的现金能够产生的收益最大化。以此看出:今年只有极少数公司认为比特币的市场表现将优于非常安全的国债和隔夜资金,公司通常会将现金用于购买这类资产。

另一方面,美国公司对比特币的好奇心与日俱增,追随马斯克持有比特币的小趋势或许正在形成。班特表示,Gartner之所以进行该项调查,是因为收到了客户有关比特币的咨询。他说:“首席财务官表示董事会和投资者向他们询问了有关比特币的问题,因此他们需要比想象中更快地加深对比特币的了解。他们向我们咨询了与比特币和区块链有关的术语定义,以便于更准确地解释比特币的工作原理。”

让班特感到意外的是,甚至有5%的受访者表示今年将购买比特币。他说:“我猜测的比例更低。”事实上,有接近10%的受访公司未来会考虑持有比特币。1%计划在2022年开始持有这种加密货币,另外9%表示将从2024年或更晚开始持有比特币。

Gartner在马斯克购买15亿美元比特币的消息爆出之后进行了该项调查。班特并不确定特斯拉首席执行官的背书,会使今年或未来持有比特币的公司数量增加或是减少。但他注意到一种繁荣的势头。他指出,公司董事会并没有像他预测的那样,对加密货币持负面立场。只有39%的受访者选择了“董事会的风险厌恶”,作为回避持有比特币的原因。他说:“通常情况下,首席财务官并不想把‘风险’带到董事会。”班特预计首席财务官会对董事会表达更多怀疑的立场。虽然此次调查的样本数量较小,但接受调查的科技公司有一半预计将在2021年或未来几年持有比特币。

班特从此次调查中得出的结论是,比特币的波动性过大,依旧无法被广泛采用,无论是作为一种投资产品,添加到公司资产负债表,还是作为一种货币用于购买食品杂货或者智能手机。班特称:“我们没有调查公司是否会因为同意用比特币购买其产品,从而将比特币添加到资产负债表。给出肯定回答的受访者肯定会更少。”

比特币要想取得较大的突破,必须成为一种可以用于日常购物的数字货币,但到目前为止还没有这种迹象。班特说:“我们正在密切关注消费者是否希望持有数字钱包,并用数字货币支付。然后,首席财务官们必须决定要接受哪一种方式。”他表示,除非有可靠的新监管框架能够保证交易安全,否则公司不会接受比特币支付。比特币暴涨暴跌的趋势,令公司财务很难把握。班特指出:“比特币的波动性和现金管理问题,是厌恶风险的首席财务官们难以接受的。”大量日常买卖能够稳定比特币的价值,但我们无法确定,在持有比特币成为业内的大趋势之前,是否会有一批公司敢为人先,承受比特币价格的大幅波动。

今天,使用比特币进行日常购物,就像在20世纪80年代的恶性通货膨胀时期使用阿根廷比索一样。在2019年7月中旬的一周内,比特币的价格下跌了12%。去年2月28日至3月13日,比特币价格下跌了40%。每天上下波动4%或5%早已司空见惯。埃隆•马斯克表示他将很快开始接受用比特币购买特斯拉汽车。马斯克将比特币纳入公司现金池的做法虽然引起轰动,但到目前为止并没有吸引多少追随者,他的这一大胆举措能否让更多人效仿?我们将拭目以待。(财富中文网)

翻译:刘进龙

审校:汪皓

近几年来,推动比特币(Bitcoin)这种主要加密货币止跌反弹的最大新闻,当属埃隆•马斯克宣布他已经购买了价值15亿美元的比特币,并将其纳入了特斯拉(Tesla)的公司现金池。然而,马斯克大胆押注比特币,并没有鼓舞向来谨慎的美国公司首席财务官们跟进。Gartner Finance在2月初的一项调查发现,95%的受访者没有在今年购买比特币的打算。Gartner Finance隶属于全球一流市场研究与咨询服务提供商Gartner公司(Gartner, Inc.)。Gartner Finance的研究业务负责人亚历山大•班特说:“公司财务主管的职责是保证财务稳定,他们不会轻易投机未知领域。”

Gartner调查了77家公司的财务主管,包括50位首席财务官,这些公司的市值从2,500万美元到300亿美元不等。调查中询问了首席财务官、财务总监和公司出纳,他们是否计划今年或未来在公司现金池中“持有”比特币。“持有”比特币意味着出于与马斯克一样的理由使用比特币,即将现金来源多样化,并将除了购买办公用品和支付债务利息的日常周转资本以外的现金能够产生的收益最大化。以此看出:今年只有极少数公司认为比特币的市场表现将优于非常安全的国债和隔夜资金,公司通常会将现金用于购买这类资产。

另一方面,美国公司对比特币的好奇心与日俱增,追随马斯克持有比特币的小趋势或许正在形成。班特表示,Gartner之所以进行该项调查,是因为收到了客户有关比特币的咨询。他说:“首席财务官表示董事会和投资者向他们询问了有关比特币的问题,因此他们需要比想象中更快地加深对比特币的了解。他们向我们咨询了与比特币和区块链有关的术语定义,以便于更准确地解释比特币的工作原理。”

让班特感到意外的是,甚至有5%的受访者表示今年将购买比特币。他说:“我猜测的比例更低。”事实上,有接近10%的受访公司未来会考虑持有比特币。1%计划在2022年开始持有这种加密货币,另外9%表示将从2024年或更晚开始持有比特币。

Gartner在马斯克购买15亿美元比特币的消息爆出之后进行了该项调查。班特并不确定特斯拉首席执行官的背书,会使今年或未来持有比特币的公司数量增加或是减少。但他注意到一种繁荣的势头。他指出,公司董事会并没有像他预测的那样,对加密货币持负面立场。只有39%的受访者选择了“董事会的风险厌恶”,作为回避持有比特币的原因。他说:“通常情况下,首席财务官并不想把‘风险’带到董事会。”班特预计首席财务官会对董事会表达更多怀疑的立场。虽然此次调查的样本数量较小,但接受调查的科技公司有一半预计将在2021年或未来几年持有比特币。

班特从此次调查中得出的结论是,比特币的波动性过大,依旧无法被广泛采用,无论是作为一种投资产品,添加到公司资产负债表,还是作为一种货币用于购买食品杂货或者智能手机。班特称:“我们没有调查公司是否会因为同意用比特币购买其产品,从而将比特币添加到资产负债表。给出肯定回答的受访者肯定会更少。”

比特币要想取得较大的突破,必须成为一种可以用于日常购物的数字货币,但到目前为止还没有这种迹象。班特说:“我们正在密切关注消费者是否希望持有数字钱包,并用数字货币支付。然后,首席财务官们必须决定要接受哪一种方式。”他表示,除非有可靠的新监管框架能够保证交易安全,否则公司不会接受比特币支付。比特币暴涨暴跌的趋势,令公司财务很难把握。班特指出:“比特币的波动性和现金管理问题,是厌恶风险的首席财务官们难以接受的。”大量日常买卖能够稳定比特币的价值,但我们无法确定,在持有比特币成为业内的大趋势之前,是否会有一批公司敢为人先,承受比特币价格的大幅波动。

今天,使用比特币进行日常购物,就像在20世纪80年代的恶性通货膨胀时期使用阿根廷比索一样。在2019年7月中旬的一周内,比特币的价格下跌了12%。去年2月28日至3月13日,比特币价格下跌了40%。每天上下波动4%或5%早已司空见惯。埃隆•马斯克表示他将很快开始接受用比特币购买特斯拉汽车。马斯克将比特币纳入公司现金池的做法虽然引起轰动,但到目前为止并没有吸引多少追随者,他的这一大胆举措能否让更多人效仿?我们将拭目以待。(财富中文网)

翻译:刘进龙

审校:汪皓

No news in recent years has done more to boost Bitcoin's sagging fortunes than Elon Musk's announcement that he's just stashed $1.5 billion of the flagship cryptocurrency in Tesla's corporate coffers. Musk's daring gambit, however, mostly hasn't inspired America's typically cautious CFOs to follow suit. In a survey conducted in early February, Gartner Finance, a unit of leading research and advisory provider Gartner, Inc., found that ninety-five percent of the respondents have no plans to purchase Bitcoin this year. "Finance leaders who are tasked with ensuring financial stability are not prone to making speculative leaps into unknown territory," says Alexander Bant, Gartner Finance's chief of research.

Gartner polled finance executives, including 50 chief financial officers, at seventy-seven companies ranging in market cap from $250 million to as large as $30 billion. The survey asked the CFOs, controllers and treasurers if they planned to "hold" Bitcoin in the company coffers, this year or in the future. "Holding" Bitcoin means using it for the same reason as Musk: diversifying their cash hordes and maximizing returns on the part of their war chests not needed for everyday working capital that buys supplies and pays interest on debt. Conclusion: Only a small minority of companies are this year wagering that Bitcoin will outperform super-safe Treasuries and money overnight funds where typically park corporate cash.

On the other hand, corporate America's curiosity about Bitcoin is growing, and a mini-trend towards following Musk may be building. Gartner conducted the survey, says Bant, because it was getting inquiries about Bitcoin from its clients. "CFOs said they were fielding questions about Bitcoin from their boards and investors, and needed to get smarter a lot quicker than they thought they did," he says. "They asked us to provide definitions for the terms involving Bitcoin and Blockchain, so they could better explain Bitcoin's workings."

Bant was surprised that even 5% of the respondents said they'd be buying Bitcoin this year. "I guessed that number would come in lower," he says. In fact, twice as many of the companies polled see Bitcoin in their future; One percent plan to start holding the coin in 2022, and other 9% said they'd take the plunge in 2024 or later.

The poll came after news broke of Musk's $1.5 billion purchase. Bant isn't sure whether the Tesla chief's endorsement swelled or depressed the ranks of companies embracing Bitcoin this year or in the future. But he notes a boomlet in momentum. Corporate boards, he notes, don't seem nearly as negative on the cryptocurrency as he predicted. Only 39% of the respondents chose potential "board risk aversion" as a reason they're shunning the king of cryptos. "Usually, CFOs don't want to take 'risk' to the board," he says. Bant expected the CFOs to report much more skepticism at the board level. And although the sample size is small, half of the tech players polled anticipate holding Bitcoin in 2021 or the years ahead.

For Bant, the takeaway is that Bitcoin remains too volatile to win widespread adoption either as an investment, on corporate balance sheets, or as currency to pay for everything from groceries to smart phones. "We didn't ask if companies would be adding Bitcoin to their balance sheets because they'd be selling their products for Bitcoin," says Bant. "Even fewer would have said yes."

To stage a big breakthrough, Bitcoin needs to emerge as digital cash for every day purchases, and so far, that's not happening. "We're watching closely if consumers desire to hold digital wallets and pay with digital currency," says Bant. "Then, CFOs will have to make decisions on what they will and won't accept." He reckons that companies won't take payments in Bitcoin until a new, strong regulatory framework renders transactions safe and secure. Bitcoin's cadence of sudden spikes and swoons also makes the token extremely difficult for corporate treasuries to handle. "The volatility and cash management problems don't sit well with CFOs, who are risk averse," says Bant. Gigantic volumes of everyday buying and selling would smooth the waters, but it's not clear that a group of corporate pioneers are willing to weather loads of volatility until their peers join the trend en masse.

Today, managing Bitcoin for everyday purchases would be something like managing the Argentine peso during the hyperinflation of the 1980s. In a single week in mid-July of 2019, Bitcoin dropped 12%. From February 28 to March 13 of last year, it cratered 40%. Daily swings of 4% or 5% are commonplace. Elon Musk says he'll soon start accepting Bitcoin from folks buying Teslas. We'll see if that audacious stroke wins any more followers than his sensational but so far little-imitated move to wager corporate cash.

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