The ‘inevitable’ question
After Tesla announced that it had bought $1.5 billion worth of Bitcoin, Mastercard said it would soon support cryptocurrencies and Bank of New York Mellon shared plans for custody services, executives across the corporate world were asked this week whether they were considering shifting cash into crypto. “Just a follow-up,” a Morgan Stanley analyst asked G.M.’s chief, Mary Barra, on the carmaker’s recent earnings call. “It’s a question on Bitcoin. It’s inevitable.” Here’s how Ms. Barra, and others, have responded:
“We don’t have any plans to invest in Bitcoin, so full stop there. This is something we’ll monitor and we’ll evaluate.” — Mary Barra, C.E.O. of General Motors
“It’s a conversation that’s happened that has been quickly dismissed. We’re going to keep our cash safe.” — Dara Khosrowshahi, C.E.O. of Uber, on CNBC
“My understanding is currently the accounting is different than other currencies and can create more volatility. So we’re not currently doing it.” — Leslie Barbi, chief investment officer of Reinsurance Group of America
“We’re not going to invest corporate cash, probably, in sort of financial assets like that.” — John Rainey, C.F.O. of PayPal, on CNBC
“A quick answer: No.” — Christine Hurtsellers, C.E.O. of Voya Investment Management
The New York Times
