Twitter CFO says social media giant is considering whether to add bitcoin to its balance sheet 

Feb 10, 2021 | The Block News | 0 comments

twitter-cfo-says-social-media-giant-is-considering-whether-to-add-bitcoin-to-its-balance-sheet 

Twitter CFO Ned Segal has said that the social media giant is considering whether to add bitcoin to its balance sheet. 

In an interview with CNBC on Wednesday, Segal said if Twitter employees and vendors ask to be paid in bitcoin, then the company may consider investing in bitcoin as part of its treasury. 

“We’ve done a lot of the upfront thinking to consider how we might pay employees should they ask to be paid in bitcoin, how we might pay a vendor if they asked to be paid in bitcoin and whether we need to have bitcoin on our balance sheet should that happen,” said Segal. “It’s something we continue to study and look at. We want to be thoughtful about it over time, but we haven’t made any changes yet.” 

Twitter’s sister company Square is already a bitcoin investor. Last October, the payments company announced that it had purchased $50 million worth of bitcoin.

Square at the time become the second U.S.-based publicly-traded company after MicroStrategy to invest in bitcoin. Earlier this week, Elon Musk’s Tesla joined the list of such companies to buy bitcoin as part of its corporate treasury management. The carmaker bought $1.5 billion worth of bitcoin in January. 

Bitcoin’s price has jumped sharply in recent months. It is currently trading at around $45,300.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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