The popular microblogging and social networking service, Twitter, is currently considering the idea of adding bitcoin to its balance sheet for situations where employees opt to receive their salaries in crypto.
In a recent interview with Squawk Box, Twitter’s Chief Financial Officer, Ned Segal, revealed that the social media giant is considering following several institutional investors’ footsteps and adding bitcoin to its balance sheet.
” 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.”
During the interview, the Twitter CFO mentioned that their company study the moves made by other companies and try to learn from them. For instance, Tesla, an electric car company owned by Elon Musk, one such company they studied, recently made a massive purchase of Bitcoin worth $1.5 billion and enabled a feature to allow customers to use bitcoin as payment while buying Tesla products.
The San Franciso-based company, founded by Jack Dorsey and some associates in March 2006 and launched in July of that year, currently has 330 million active monthly users, with most of them about 69.3 million users in the United States.
The CEO of the company, Jack Dorsey, is a strong supporter of Bitcoin and has often shown his interest in the cryptocurrency. In September last year, the Twitter co-founder explained why Bitcoin is the most feasible digital currency on the internet.
Back in October, when queried by Udi Wertheimer if he owned ETH, the native token of the Ethereum blockchain, Jack Dorsey revealed that Bitcoin is the only crypto asset in his portfolio. Additionally, Dorsey’s co-owned financial service and mobile payment company, Square, was one of the first major public companies to invest in Bitcoin.
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This article is Originally posted on CoinCentral.com
Author: Abigail Michelle