Twitter CFO Reveal Their Company is Considering Bitcoin Payments and Adding it to Their Balance Sheet

By Prashant Jha
February 10, 2021 Updated February 10, 2021
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Twitter CFO Ned Segal appeared on CNBC to talk about the recent frenzy around Bitcoin post-Tesla’s $1.5 billion purchase. Segal during the interview revealed that their company is currently considering a lot of things around Bitcoin that include paying employees salary in Bitcoin, giving merchant salary in Bitcoin, and also adding Bitcoin to their company’s balance sheet.

Tesla’s Bitcoin investment has given rise to a lot of speculations around other multi-billion dollar institutions joining the bitcoin league. Some rumors suggest Oracle could be the next institution and now Twitter CFOs comments are only going to fuel the speculations further.

Twitter CEO Jack Dorsey is a known Bitcoin proponent and his other venture Square Inc. is also invested in Bitcoin heavily, thus Twitter adding Bitcoin to their company’s balance sheet could not be a big surprise. Dorsey has been an advocate of Bitcoin as the future of internet money and see it as a key part of the future financial system.

$25 Billion in Institution  Money Expected to Flow into Bitcoin

Institutions are hurrying into buying bitcoin post third halving of the block reward realizing the scarcity of the asset. Microstrategy started the institutional rush when it made the first bitcoin purchase back in August 2020 and since then it has bought bitcoin worth $1.5 billion. 2021 saw Microstrategy organize a Bitcoin conference attended by more than 1400 CEOs. MicroStrategy CEO revealed that NYDIG’s Ross Stevens estimated that total institutional inflow in 2021 would be around $25 Billion.

Tesla became the first company to invest $1.5 billion post the projected institutional inflow. Now the likes of Oracle and Twitter also look set to join their leagues. It is also important to note that these institutions are not merely buying Bitcoin to sell it at a higher price, rather using it as a treasury reserve asset.

An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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