Twitter CFO signals potential investment in Bitcoin

Twitter’s chief financial officer Ned Segal said the company is considering moving part of its reserves into Bitcoin.

“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 #btc and whether we need to have #btc on our balance sheet,\” says @NedSegal $TWTR. pic.twitter.com/KjIgnqDmYC

— Squawk Box (@SquawkCNBC) February 10, 2021

He said the team has spent considerable time weighing options should employees and contractors request payment in digital gold.

“We continue to study this issue. We want to approach it thoughtfully, but so far we have not made any changes,” Segal added.

Twitter CEO Jack Dorsey is a well-known advocate of Bitcoin. Earlier the platform’s head said that Bitcoin would be the single currency of the Internet, and also launched its own full node of the Bitcoin network.

In October 2020, the payments company Square, which is owned by him, invested in Bitcoin $50 million (about 4,709 BTC at the time of purchase).

Investments in digital gold accounted for approximately 1% of the company’s total assets at the end of the second quarter of 2020.

Analysts at JPMorgan suggested that Bitcoin’s high volatility could deter large companies.

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