|According to the chief financial officer of the tech business, Twitter may be the next huge corporation to buy Bitcoin.|
According to cointelegraph.com, Ned Segal, who has served as Twitter’s CFO since 2017, referred to concerns about how Twitter will relate to Tesla’s latest $1.5 billion Bitcoin (BTC) investment this week in an interview on CNBC’s Squawk Box today. Segal said the tech giant was closely monitoring other firms, and debated possibly adding the crypto asset to its own books or using it for the salaries of Twitter staff.
“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 should they ask to be paid in Bitcoin, and whether we need to have Bitcoin on our balance sheet,” said Segal.
Although the CFO said Twitter has not “made any changes yet,” he added that if enough people are involved in performing BTC transactions with the tech company, the tipping point could come.“When we hedge currencies, when we do business in another country, when we think about all the different exposures that we have, we’re really trying to match our assets and our liabilities, and we take the same approach to Bitcoin that we do to all the other types of risks that we have.”
Twitter is a fraction of the size of a corporation like Tesla, whose market cap has grown to $780 billion this week, with a market capitalization of more than $51 billion. The price of Bitcoin hit a new all-time high of $48,200 after the announcement that Tesla bought $1.5 billion of Bitcoin and was considering accepting it for payments. It could help drive the price even higher if other multi-billion dollar companies reported similar acquisitions or adoption strategies.