Twitter is considering adding bitcoin to its balance sheet, CFO says - Business Insider
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Twitter has thought-about whether or not so as to add bitcoin to its stability sheet, although no adjustments have been made but, in keeping with CFO Ned Segal.
Segal mentioned in a CNBC interview Wednesday that the social media large continues to "research and take a look at" incorporating bitcoin into its funds.
"We have finished quite a lot of the upfront considering to think about how we'd pay workers ought to they ask to be paid in bitcoin, how we'd pay a vendor in the event that they requested to be paid in bitcoin and whether or not we have to have bitcoin on our stability sheet ought to that occur," mentioned the CFO. "We wish to be considerate about it over time, however we have not made any adjustments but."
Twitter would observe the lead of Tesla, which revealed on Monday it had bought up $1.5 billion of bitcoin in January and plans to start out accepting the cryptocurrency as fee. The information despatched bitcoin to an all-time excessive above $48,000 earlier this week. The cryptocurrency is at the moment buying and selling round $45,000.
A bitcoin announcement from Twitter could not come as a shock to buyers, as CEO Jack Dorsey is a passionate fan of the cryptocurrency. He is additionally the CEO of funds firm Sq., which bought $50 million worth of bitcoin in October of last year, which represents roughly 1% of the agency's complete belongings.