Twitter CFO Ned Segal said the company is considering investing some of its funds in Bitcoin. In an interview with CNBC on Wednesday, February 10, Segal said that if Twitter employees and vendors ask for payment in bitcoin, then the company may consider investing a portion of its reserves in BTC.
“We already thought about how we can pay employees if they ask for payment in bitcoin, how we can pay vendors if they ask for payment in bitcoin, and whether we need to include bitcoins on our balance sheet,” Segal said.
“We are continuing to review this issue, but we have not made any changes yet.”
“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 asked to be paid in #btc and whether we need to have # btc on our balance sheet, ”says @NedSegal $ TWTR. pic.twitter.com/KjIgnqDmYC
– Squawk Box (@SquawkCNBC) February 10, 2021
Payments company Square, also led by Twitter CEO Jack Dorsey, announced a $ 50 million investment in Bitcoin last October.
Square at the time became the second public company in the US after MicroStrategy to invest in bitcoin. Tesla joined these companies this week.
Bitcoin’s popularity on Twitter reaches all-time high
The emergence of Tesla Elon Musk as a major buyer of bitcoins sparked a lot of discussion on the Twitter social network about the # 1 cryptocurrency phenomenon. Analytical company The TIE has recorded 143 thousand unique tweets about Bitcoin in the last 24 hours, which is higher than the previous daily maximum recorded on January 3 of this year (140 thousand tweets).
Indeed, Tesla’s example became just one of a whole series of other stories when various American companies began to invest in bitcoins. According to the founder and head of Stone Ridge Asset Management, Ross Stevens:
“We invested in bitcoins, because in a situation of global financial turbulence, the likelihood of a depreciation of the US dollar against bitcoin over the next 10-20 years looks very high.”
He said that, together with business partners, they have been purchasing bitcoins since 2013, and that he expects that “in the next two years we will buy even more bitcoins than in all the previous eight years.”
Michael Sailor, head of MicroStrategy, said in an interview with CNN that he was observing how “bitcoins are gradually beginning to take the place of less promising assets on the balance sheets of a number of American companies, as cryptocurrency No. 1 attracts by its ability to demonstrate growth if we take a long planning horizon.”
As corporations adopt #bitcoin as a treasury reserve asset on their balance sheets, they replace a non-performing asset with the best performing asset, choosing volatile appreciation over stable depreciation. This Bitcoin Strategy benefits all shareholders over the long term. https://t.co/F0xxZ83jNx
– Michael Saylor (@michael_saylor) February 9, 2021
Billionaire Mike Novogratz believes that the arrival of institutional investors makes the $ 100K target for Bitcoin very possible for the foreseeable future. Another well-known investor and billionaire Cameron Winkloss believes that “in a maximum of five years, all Fortune 500 companies will invest to some extent in bitcoins.”
The situation with bitcoin futures, which demonstrates great investor optimism, indicates that cryptocurrency # 1, from the point of view of traders’ calculations, is able to overcome 50 thousand dollars.