Twitter CFO Reveals Company Is Considering Adding BTC To Its Balance Sheet
Where Bitcoin (BTC) has impressed Tesla and its Chief Executive Officer (CEO) Elon Musk, prompting them to make an investment in the leading digital currency, it seems to have succeeded in getting the attention of Twitter, too as the social media giant is thinking about including the primary cryptocurrency to its balance sheet. This hint was given by the CFO of the company.
Whether To Add BTC Or Not
Ned Segal, the Chief Financial Officer (CFO) of Twitter, has revealed in a statement that they are considering whether they should add Bitcoin to their balance sheet or not. He claimed that they are continuously studying and are looking at adding the top-ranked digital currency to their finances.
Twitter’s CFO talked about this in an interview with CNBC held on Wednesday, the 10th of February. He said that if their vendors and employees ask them for a payment in Bitcoin, then how they will be able to pay them when they do not have Bitcoin in their accounts. That is why Segal said that they have been thinking a lot about adding BTC to the company’s balance sheet.
He said that if vendors or employees demand payment in BTC, then there is likely a chance that they may make an investment in the pioneering cryptocurrency as a part of the company’s treasury policy. The company intends to be thoughtful regarding this in the time to come, but he said that there are not any changes made yet.
The payment services firm Square, the sister company of Twitter, is already an investor in the flagship cryptocurrency. Square made an investment of $50 million in Bitcoin back in the month of October in 2020. After the business intelligence firm MicroStrategy, it was the second publicly listed firm in the United States to invest in BTC. What’s more, the Founder of Square and the Chief Executive Officer (CEO) of Twitter, Jack Dorsey, is also a proponent of Bitcoin. It means that there are more chances that Twitter will become a Bitcoin investor.
Elon Musk’s electric car firm Tesla invested $1.5 billion in Bitcoin at the beginning of this week and became an investor in the top digital asset. There is likely a chance that several other companies may follow the move of Tesla and invest in Bitcoin.
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