Twitter CFO Says BTC Could Be Added To Company’s Balance Sheet

Twitter CFO Ned Segal says that BTC could be added to the company’s balance sheet in the near future so let’s find out some more in today’s Bitcoin news.

Twitter is now open to the idea of adding the benchmark cryptocurrency to its balance sheet in case employees ask to be paid in crypto as the Twitter CFO Ned Segal explained in a CNBC interview:

“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 Bitcoin, and whether we need to have Bitcoin on our balance sheet should that happen.  It’s something we continue to study and look at. We want to be thoughtful about it over time, but we haven’t made any changes yet.”

Twitter CEO Jack Dorsey was quite positive about BTC in the past and last week, he revealed to his followers on Twitter that he is running a Bitcoin node. Dorsey’s Twitter profile is now saying only one word “Bitcoin” which could have inspired Elon Musk to do the same. Tesla revealed that it invested $1.5 billion in BTC which boosted the price of the asset close to $50,000. Segal statement was echoed by Grayscale CEO Michael Sonnenshein who said that larger corporations will follow right after Tesla and will invest in BTC as well:

"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

 “You’re going to see a lot of other visionary leaders and disruptive companies actually realizing it has really moved from why to why not.”

The CEO of Wachsman, David Wachsman also noted that Tesla’s investment in Bitcoin will speed up the “feedback loop of institutional adoption legitimizing crypto assets.” He added:

 “The signs of institutional fear of missing out (FOMO) on crypto as the next major asset class are already visible, and it will be interesting to see if this move prompts a wave of other enterprises and institutions to follow suit.”

As reported previously, The Financial services company Square by Jack Dorsey, Twitter’s founder, announced that it purchased $50 million in BTC. The company said that it believes that cryptocurrencies are an instrument of economic empowerment and will provide a way to participate in a global monetary system that will align with the company’s purpose.