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Twitter Considering to Add Bitcoin to Its Balance Sheet

Twitter Considering to Add Bitcoin
  • Twitter is considering adding Bitcoin to its balance sheet, said CFO Ned Segal.
  • Segal said Twitter’s BTC resolution is based on how the company aims to pay employees in Bitcoin.
  • Twitter CEO Jack Dorsey also joined Tesla CEO Elon Musk last January in adding #Bitcoin in their twitter description.

Twitter is planning to add Bitcoin to its balance sheet, according to CFO Ned Segal during an interview with CNBC. With this, Twitter may become the second major company to buy Bitcoin after Tesla’s $1.5 billion BTC investment.

However, Twitter has not made any significant changes yet.

Segal also said that they may pay their employees in BTC if they see the need for it. In addition, he said they discussed adding Bitcoin to Twitter’s balance sheet due to other companies’ reactions to the cryptocurrency

Moreover, Segal notably admitted their new BTC resolution would be effective if people do more Bitcoin transactions with Twitter.

Segal explained,

“When we hedge currencies, when we do business in another country, when we think about all the different exposures that we have, we’re really trying to match our assets and our liabilities, and we take the same approach to Bitcoin that we do to all the other types of risks that we have.”

Meanwhile, Twitter CEO Jack Dorsey made an identical move to Elon Musk last January. Specifically, Dorsey wrote #Bitcoin on his Twitter description, akin to what Elon did on his. This caused the Twitter community to wonder whether Dorsey bought Bitcoin too, just like Tesla did.

Collins Adane is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.