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Cryptocurrency

Twitter considers paying its staff in Bitcoin

Twitter says it might pay employees in bitcoin if they should ask to be paid by such means.

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The world’s leading social media company, Twitter has revealed it might consider using the world’s most popular crypto, Bitcoin as a treasury reserve and payment options.

The chief financial officer of Twitter, Ned Segal in an interview session on CNBC stated that the social media giant is also looking to pay its employees in Bitcoin as long as they request such an option.

“We have done a lot of the upfront thinking to consider how we might pay employees should they ask to be paid in bitcoin (BTC, -3.53%), 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,” he said.

READ: Robinhood restricts trading Dogecoin after gaining 1,000%

Ned Segal added that the company was also studying closely what other companies do to see what can be learned from them.

Recall some months ago, Square Inc. led by Twitter’s Jack Dorsey on October 8th disclosed that it purchased, 4,709 bitcoins at an estimated worth of $50 million.

READ: Whatsapp to require biometric authentication for PC and web access

Square added it invested in cryptos because it saw it as a tool for economic enhancement via participation in the future of payment systems, which aligns with Square’s objectives.

At the time of writing this report, Bitcoin traded at $45,069.74 with a daily trading volume of $85,907,820,943, down 4.27% for the day

READ: Tesla has $1.5 billion worth of Bitcoin

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina or email [email protected] He is a Member of the Chartered Financial Analyst Society.

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Cryptocurrency

Cardano running on hot steam, bounces above $1 mark

Cardano at the time of writing this report was trading at $1.047324, up 20.35% on the day.

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Cardano, the sixth most valuable crypto is enjoying impressive gains amid record-buying pressure from crypto investors.

At the time of writing this report, Cardano was trading at $1.047324, up 20.35% on the day. It was the digital currency’s biggest one-day percentage gain since February 20, 2021.

Such appreciation sighted in the fast-rising crypto asset, pushed Cardano’s market value to $32.38 billion, or 2.10% of the total cryptocurrency market value. At its highest, Cardano’s market cap was pegged at $35 million.

READ: Cardano flying on a record high amid top American singer’s buy

Cardano had traded in a range of $0.899630 to $1.047324 for the day.

Over the past seven days, Cardano has seen a rise in value, as it gained 21.56%. The volume of Cardano traded for the day at the time of writing, was $10.583078 billion or 4.48% of the total volume of all cryptocurrencies.

It has traded in a range of $0.8115 to $1.1971 in the past 7 days.

Highly revered crypto analyst/trader, Michaël van de Poppe also recommended the fast-rising crypto asset.

READ: Bitcoin more valuable than any global bank

In a video (titled “Cardano Breaks $1 But $10 Is Possible In This Bull Cycle! Here’s Why!”) released recently the crypto pundit told his followers on Youtube channel that:

“Cardano going towards $10 is not that weird to calculate from here, especially given the fact, and I’ve been saying this in the past week multiple times, especially given the fact that Cardano and mostly all the Bitcoin pairs are just barely waking up. So there’s still much more to gain for the Bitcoin pairs.”

  • Cardano (ADA) lately has been tipped to outperform, on the bias that it is headed towards its smart contract launch last month, leading to a significant amount of applications built on Cardano in 2021.
  • This means that more developers will see it as an attractive medium for building their desired apps.

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Billionaire Watch

Elon Musk’s SpaceX is exploring the merits of buying Bitcoin

SpaceX, a company founded by Elon Musk is exploring the merits of buying Bitcoin, according to MicroStrategy CEO, Michael Saylor.

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Elon Musk needs $20 billion wealth gain to clinch world's richest man title

MicroStrategy CEO, Michael Saylor, has revealed that SpaceX, a company founded by Elon Musk, is exploring the merits of buying Bitcoin.

Saylor revealed that top representatives from SpaceX were among 7,000 companies represented at MicroStrategy’s recent Bitcoin seminar, which the leading business intelligence company organized to aid companies interested in buying Bitcoin as a treasury asset.

READ: Bitcoin bounces back after losing $13,000 in a space of 2 days

“We had people from SpaceX there. We had people [from] some of Elon Musk’s companies. We had people from Marathon there.

“The ones you would expect were there, but of course, there’s an avalanche of private companies, and there were a decent number of public companies and treasurers and CFOs that were lurking.

“Some don’t want to have their names mentioned, as you can imagine, because it’s a sensitive topic,” Saylor said.

READ: Panic in crypto market as over $140 billion got wiped off

However, a significant number of traditional finance experts are not buying into the flagship crypto bullish run, as they see little value in the digital currency on the account that they believe Bitcoin, and other leading cryptos are just part of a larger speculative bubble.

Recent reports suggest SpaceX raised another $850 million this month from a group of leading institutional investors led by Sequoia Capital.

  • Such investment now puts SpaceX’s valuation at $74 billion, a 60% jump from August, and helped boost Musk’s net worth by about $11 billion, according to the index.
  • A November 15, 2016 filing with the Federal Communications Commission revealed that the tech billionaire owned 54% of SpaceX.

READ: Tesla loses $200 billion in market value following Bitcoin investment

Micheal Saylor has always been a strong fan of the world’s most popular crypto asset and he thus shares the bias that companies can use Bitcoin to hedge against future fiat inflation and allow them to plug into a revolutionary and superior monetary network.

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