After Tesla, the social media platform Twitter Inc. bitcoin on its balance sheet, Twitter has not made any changes yet, Twitter’s, CFO, Ned Segal, told CNBC on Wednesday.
In an interview with CNBC Ned Segal said, “Twitter had considered how it might pay vendors or staff using bitcoin, should they ask to transact using the virtual currency.”
Vijay Ayyar, head of Asia-Pacific with cryptocurrency exchange Luno in Singapore said, “One by one, corporations will add Bitcoin to their balance sheets, and it couldn’t get bigger than Tesla, imagine if 100 companies start putting even 1% into Bitcoin, what that is going to do to demand and supply”.
Segal’s remark comes to a couple of days after the announcement of Tesla’s Inc., CEO, Elon Musk that the company had bought $1.5 billion of the Bitcoin and will shortly receive it as a form of payment for products.
After the revelation of the company on Tuesday, Twitter shares were up by 11 percent, Twitter beats wall street boards for monthly sales and turnover and monitored its social media peers to predict a robust start to 2021 as advertisement expenses recover starting rock bottom.
The chief executive of payments firm Square Inc., Jack Dorsey, is a well-known bitcoin supporter, Dorsey said that he is confident on the internet, to have its local currency. Square in October said he ensured a purchase for about 4,709 bitcoins at total purchase worth of $50 million.
In a “Squawk Box” interview with CNBC on Wednesday Ned Segal said, “The company continues to review potential uses of the digital currency”. He added, “It’s something we continue to study and look at, we want to be thoughtful about overtime, but we haven’t made any changes yet.”
