Twitter is considering adding bitcoin to its balance sheet, CFO says | Currency News | Financial and Business News

FILE PHOTO: 3D printed Twitter logo is seen in front of a displayed cyber code


Twitter has considered whether to add bitcoin to its balance sheet, though no changes have been made yet, according to CFO Ned Segal.

Segal said in a CNBC interview Wednesday that the social media giant continues to “study and look at” incorporating bitcoin into its finances. 

“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 bitcoin and whether we need to have bitcoin on our balance sheet should that happen,” said the CFO. “We want to be thoughtful about it over time, but we haven’t made any changes yet.” 

Twitter would follow the lead of Tesla, which revealed on Monday it had bought up $1.5 billion of bitcoin in January and plans to start accepting the cryptocurrency as payment. The news sent bitcoin to an all-time high above $48,000 earlier this week. The cryptocurrency is currently trading around $45,000.

A bitcoin announcement from Twitter may not come as a surprise to investors, as CEO Jack Dorsey is a passionate fan of the cryptocurrency. He’s also the CEO of payments company Square, which purchased $50 million worth of bitcoin in October of last year, which represents approximately 1% of the firm’s total assets.

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