One-Third of the World’s 100 Biggest Companies Have a Positive Crypto Stance

September 30, 2021, 9:30 AM AEST - 2 weeks ago

The latest Blockdata research has found that 32 of the world’s top 100 publicly traded businesses have a positive attitude to cryptocurrencies, proving that even large organisations can no longer afford to ignore digital assets.

According to the research, of the top 100 firms 32 have a positive attitude toward cryptocurrency, 61 maintain a neutral perspective, and only seven have an opposing stance.

Those 32 businesses deemed favourable toward cryptocurrencies included one or more of the following criteria:

  • The business accepts cryptocurrency as a form of payment and provides connected goods or services.
  • The business keeps cryptocurrency in its treasury or recruits employees to work on developing cryptocurrency-related goods or services.
  • The business has senior leaders who have spoken in favour of cryptocurrency in the past two years.

Financial Institutions Are Changing Their Minds on Crypto

Of particular note is that many of these 32 businesses are financial institutions that were previously sceptical about cryptocurrencies but are progressively changing their minds due to customer demand.

Of the 61 businesses deemed neutral, 59 were considered so due to the absence of any public statements on cryptocurrencies by the company or its senior executive officers.

Top 100 Public Companies’ Stance on Cryptocurrency. Source: Blockdata

Most of the top 100 firms are involved in a line of business that is not immediately impacted by cryptocurrencies. As a best-case scenario, these businesses may utilise cryptocurrencies for transactions with partners. Conversely, they may incorporate cryptos into their treasury holdings to offset losses incurred by holding inflationary currencies such as the US Dollar.

The two exceptions are Microsoft, which has developed a Decentralised Identity system on the Bitcoin blockchain and intends to build further solutions, though this is not an endorsement of crypto; and Alibaba, which has tried to launch crypto-related projects, but none has succeeded.

The companies deemed negative on cryptocurrencies, regardless of whether they provide related goods or services, have been openly critical of cryptocurrencies or have limited customers’ ability to engage in crypto-related activities.

Other Surveys Flag Up to 76% Interest in Crypto

Last month’s 2021 Global Blockchain Survey, conducted by multinational accounting firm Deloitte, revealed that 76 percent of people believe crypto will be a strong alternative to, or outright replace, fiat money within the next decade.

A month before that, as also reported by Crypto News Australia, multinational financial services corporation Fidelity Digital Assets published a survey that revealed 70 percent of institutional investors were interested in buying cryptocurrencies.

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