Nearly 50% of British Companies Using Cryptocurrency
News
In recent news, seven major companies in the UK have banded together and have announced the creation of an independent organization in charge of supporting and developing regulations for industry standards.
A situation that proves that most of the cryptocurrency stock held by major companies is not just used to defend themselves against cyber-attacks. In fact, a recent survey amongst IT companies has revealed that most companies have held on to their digital stocks for many reasons.
According to a study by Citrix, nearly 50% of all British companies possess some stocks of cryptographic currency. The study involved interviewing 750 IT managers from companies with at least 250 employees. The results showed that, on average, most companies possess about 24 Bitcoins.
And, among them, only about 7% stuck with Bitcoin. The other 93% of companies have portfolios that are more diverse and contain several different cryptocurrencies. The study also showed that about 57% of Bitcoin holders had made trades during December’s price increase and 38% of them are expected to sell in the next few days.
Apparently, some British companies are using cryptocurrency to pay their suppliers and their employees. Others have adopted different strategies and are using cryptocurrency with smart contracts or other Blockchain technologies.
Almost 64% of the companies that were surveyed suggested that the rising price of cryptocurrency is causing hackers to target their cryptographic stocks. Moreover, about 31% indicated they believe that a large stock of cryptocurrency will put a company at the top of the list of targets for cyber-criminals.
However, the study showed that only 5% of companies who possess cryptocurrency have taken security measures to protect their investment. And of these, just over half have taken specific measures to safeguard their operations.
The most popular security measures have been offline storage, diversification, decentralized control and the use of a dedicated server.
One of the biggest concerns in business in uncertainty. A condition that leads to fewer investments, which is especially true when it comes to cryptocurrency.
It’s important to note that all business make decisions based on hard data and well-researched planning to help minimize the risk of bankruptcy. However, this is nearly impossible in the cryptographic market since cryptocurrencies are plagued by extreme volatility and a high level of risk.
Still, industry experts have proposed a solution by suggesting that British companies launch their own ICOs. And, this could be one of the main reasons why these companies have been holding on to their crypto-stocks.
A situation that proves that most of the cryptocurrency stock held by major companies is not just used to defend themselves against cyber-attacks. In fact, a recent survey amongst IT companies has revealed that most companies have held on to their digital stocks for many reasons.
British Business and Virtual Currency
According to a study by Citrix, nearly 50% of all British companies possess some stocks of cryptographic currency. The study involved interviewing 750 IT managers from companies with at least 250 employees. The results showed that, on average, most companies possess about 24 Bitcoins.
And, among them, only about 7% stuck with Bitcoin. The other 93% of companies have portfolios that are more diverse and contain several different cryptocurrencies. The study also showed that about 57% of Bitcoin holders had made trades during December’s price increase and 38% of them are expected to sell in the next few days.
Apparently, some British companies are using cryptocurrency to pay their suppliers and their employees. Others have adopted different strategies and are using cryptocurrency with smart contracts or other Blockchain technologies.
As Always, Security Questions Plague the Market
Almost 64% of the companies that were surveyed suggested that the rising price of cryptocurrency is causing hackers to target their cryptographic stocks. Moreover, about 31% indicated they believe that a large stock of cryptocurrency will put a company at the top of the list of targets for cyber-criminals.
However, the study showed that only 5% of companies who possess cryptocurrency have taken security measures to protect their investment. And of these, just over half have taken specific measures to safeguard their operations.
The most popular security measures have been offline storage, diversification, decentralized control and the use of a dedicated server.
British Companies Overcome Uncertainty
One of the biggest concerns in business in uncertainty. A condition that leads to fewer investments, which is especially true when it comes to cryptocurrency.
It’s important to note that all business make decisions based on hard data and well-researched planning to help minimize the risk of bankruptcy. However, this is nearly impossible in the cryptographic market since cryptocurrencies are plagued by extreme volatility and a high level of risk.
Still, industry experts have proposed a solution by suggesting that British companies launch their own ICOs. And, this could be one of the main reasons why these companies have been holding on to their crypto-stocks.
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Disclaimer. This content is for informational and educational purposes only. It does not constitute financial advice, a recommendation, or an offer to buy or sell any security or digital asset. Past performance does not guarantee future results. Cryptocurrency investments are subject to high market risk and volatility.