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.
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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.”