FILE PHOTO: The 3D printed Twitter logo will appear in front of a displayed cyber code
According to CFO Ned Segal, Twitter has considered adding Bitcoin to its balance sheet, although no changes have been made yet.
Segal said in a CNBC interview Wednesday that the social media giant continues to “study and review” how it is incorporating Bitcoin into its finances.
“We thought a lot upfront about how we might pay employees if they demand payment in bitcoin, how we might pay a seller if they demand payment in bitcoin, and whether we need to have bitcoin on our side, should that be happen, “said the CFO. “We’d like to think about it over time, but haven’t made any changes yet.”
Twitter would follow Tesla’s lead, which announced Monday that it bought $ 1.5 billion worth of bitcoin in January and plans to accept the cryptocurrency as payment. The news took Bitcoin to an all-time high above $ 48,000 earlier this week. The cryptocurrency is currently trading at around $ 45,000.
A Bitcoin announcement from Twitter may not come as a surprise to investors as CEO Jack Dorsey is an avid fan of the cryptocurrency. He is also the CEO of the payments company Square, which bought Bitcoin last October for $ 50 million, which is roughly 1% of the company’s total assets.
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