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I work for Disney.

I sent an email 3 years ago to our then-CFO pitching Bitcoin on the balance sheet. Not surprisingly, they weren’t interested.

I followed up again last week because we have a new CFO. Here’s the response.

What are your thoughts? nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z

“The bitcoin asset class is quite interesting and has been a fast growing asset class for a number of years now. I do think it is an interesting investment alternative for investors that believe the upside justifies the high volatility of the asset.

For corporate purposes, however, I do not think it is an appropriate investment. It is not part of our company strategy (entertainment), and as a store of value for our cash it is too volatile to be useful. I’ve stated my views on CNBC multiple times, and there was a Fortune article on my comments.

Keep in mind, our stock trades on the strength of our brands and other competitive advantages. They provide a level of stability that enables us to maintain a high PE multiple relative to the sector. Investors are not looking for us to be investment speculators - they can buy other trading companies (eg Bunge for commodities) in order to invest in that asset class. If you look at trading company PE multiples, they are generally far below those of TWDC.

Our priority for our cash is safety, liquidity and price stability. We only keep enough cash to ensure the company can function smoothly and efficiently. Beyond that, we return the cash we generate to shareholders through dividends and share repurchases.

Thanks for thinking about how to make the company better - I appreciate your passion and thoughts.”

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Discussion

TK SuitCoin.exe 80HpW 1y ago

I would say that enabling Bitcoin on the balance sheet would necessitate that they would no longer have to require share buybacks in order to bolster their price by allowing them to have liquidity of Bitcoin because Bitcoin is the most liquid asset on the planet they would have access to those dollars in whatever gratuity they needed whenever need but by having it on their balance sheet the buybacks wouldn't need to be a thing anymore as they would end up being necessity a company that would be self-sustaining in the long run.

As he says in his post here they are looking to be self-sustaining longtime company now how do they plan on doing that if they are not looking for a long-term strength and ballot sheet to maintain and sustain themselves

PeakyBTC 1y ago

Very helpful. Thank you

miKe 1y ago

Usually CFO's of big companies like Disney are old school conservatives and hard for them to handle Bitcoin as is. Trying another approach might work ... introducing a 2nd tier payment system that runs on Bitcoin compared to current payment systems used by the company and show that they are faster, more secure ,cheaper and at the end of the day they save time and money for the CFO. with good research and numbers there is a good chance he might try this approach.