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Twitter Has Thought About, But Not Decided On Holding Bitcoin

Twitter thinking about adding Bitcoin to its balance sheet

Twitter Inc. has thought about potentially holding on to Bitcoin, but has yet to make that change. Chief Financial Officer Ned Segal appeared on CNBC and spoke about the thought process the company goes through.

“We watch closely what other companies do to see what we can learn from them and when we think about our balance sheet. We think about matching how it’s invested and the currencies in which it’s invested. Relative to how we might pay people, whether it’s paying somebody who’s providing a service to us or paying employees,” Segal said.

Segal would continue on about one of the major points Twitter is considering. “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 ask to be paid in Bitcoin. Whether we need to have bitcoin on our balance sheet should that happen.”

This all comes just days after Tesla revealed it had purchased $1.5 billion of Bitcoin. Ever since that announcement, there have been whispers about which could be the next major company to leap into Bitcoin.

Twitter Shares Up 8% After Beating Quarterly Target

Shares of Twitter have been up 8% after the company on Tuesday beat Wall Street targets for quarterly gross sales and revenue and adopted its social media friends to forecast a powerful begin to 2021 as ad spending rebounds from an all-time low.

When further asked about what could be the tipping point for Twitter. Segal focused on whether people the company dealt with were asking about Bitcoin.

“One of the key things we’d look at would be if people were asking to transact with us in Bitcoin. Because then we might consider whether we would be transferring dollars to bitcoin at the time of the transaction. Or if we wanted bitcoin on our balance sheet ready to complete that transaction.”

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Corey Hansford

Corey has been involved in media and writing since graduating from the illustrious Howard University with a degree in Broadcast Journalism. While relatively new to the cryptocurrency world, he has been writing since 2012 with most contributions coming in the sports world on websites such as LakersNation.com and DodgerBlue.com. Corey is also an avid sports fan who closely follows the Lakers, Cowboys, Dodgers, WWE, and UFC.

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