Ned Segal, the CFO of Twitter, said in a recent interview that the company will continue to analyze and focus on the potential use of digital cryptocurrencies and does not rule out the possibility of using Bitcoin to pay employees’ salaries as well as for business services. That means the company might add Bitcoin to its balance sheet.
Twitter considers adding Bitcoin to its balance sheet
He said in the interview that Twitter is thinking ahead about how to buy Bitcoin to satisfy that request if an employee asks to be paid in Bitcoin. The company needs to stockpile some Bitcoin in advance. He said that they have been thinking about it, but no decisions have been made at this point.
Jack Dorsey, the current Twitter CEO, is a Bitcoin enthusiast who recently purchased about $50 million worth of Bitcoin, and also Elon Musk’s Tesla also recently spent $1.5B on Bitcoin and said it could allow customers to pay in cryptocurrency.
Twitter CFO has revealed his passion for Bitcoin
“The reason I have so much passion for #Bitcoin is largely because of the model it demonstrates: a foundational internet technology that is not controlled or influenced by any single individual or entity,” Dorsey said in a tweet.
The Twitter CFO also said that one of the key issues they are considering is how to buy cryptocurrencies in the company’s name and how to convert it to U.S. dollars during transactions, in addition to deciding if it is possible to include it as a statistical item in their financial accounts.