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Twitter Considers Holding Bitcoin

Twitter has confirmed is is considering purchasing bitcoin to use as a payment method, but has not yet made a decision....
Twitter Considers Holding Bitcoin
Written by Matt Milano
  • Twitter has confirmed is is considering purchasing bitcoin to use as a payment method, but has not yet made a decision.

    Tesla made headlines earlier this week when it purchased some $1.5 billion in bitcoin. The company also announced they will begin accepting bitcoin as a payment method. It appears Tesla isn’t the only company eyeing bitcoin as an investment and payment option.

    In an interview with CNBC, Ned Segal, Twitter’s CFO, said the company has considered holding bitcoin, but has yet to make a decision.

    “We watch closely what other companies do to see what we can learn from them,” Segal said.

    If it decides to make the move, the company could the cryptocurrency to help pay vendors or employees, if they request it. The company would need to decide whether to keep bitcoin on-hand, or convert on-demand.

    “We might consider whether we would be transferring dollars to bitcoin at the time of the transaction or if we wanted bitcoin on our balance sheet ready to complete that transaction,” Segal added.

    Twitter’s stance on bitcoin is further evidence of the growing acceptance of cryptocurrency in the market at large.

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