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