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Twitter is looking into Bitcoin payments to employees

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Twitter could be the next major company to buy Bitcoin, according to Ned Segal, chief financial officer of the technology company, told CNBC.

The chief financial officer of the social media platform said: Twitter has considered whether it might keep Bitcoin in its balance sheet, but has not made any changes yet.

And in Interview With CNBC, Segal said: Twitter has thought about how to pay vendors or employees who use Bitcoin, if they ask to transact with virtual currency, and whether we need to have Bitcoin.

The tech company is closely monitoring other companies, and has discussed adding crypto assets to its own books or using it to pay its employees’ salaries.

He added: We might consider whether we are converting dollars into Bitcoin at the time of the transaction or if we want the Bitcoin in our balance sheet ready to complete that deal.

Although the CFO said: Twitter has not made any changes yet, he added that the turning point may come if enough people are interested in conducting BTC transactions with the technology company.

Segal’s comments come two days after Tesla revealed that the car maker has bought $ 1.5 billion in cryptocurrency and may soon accept it as a payment method for cars, pushing the price of the cryptocurrency to a higher level.

And if other billions of dollars of companies announce similar purchases or certification schemes, that could help push the price higher.

Yesterday, GM CEO Mary Barra, in response to a question about accepting Bitcoin as a payment for vehicles, said yesterday: This is something we monitor and evaluate, and if there is strong customer demand for it in the future, there is nothing to stop us from doing so.

But unlike Musk, Parra said: We have no plans to invest in Bitcoin.

Twitter shares rose 11 percent on Tuesday after the company beat Wall Street targets for quarterly sales and profits and followed up on its social media counterparts to predict a strong start to 2021 as ad spending spiked from the bottom.

(Jack Dorsey) Twitter CEO Jack Dorsey is CEO of Square payments, a well-known bitcoin enthusiast, and he said he believes the internet will have its home currency.

In October, Square said it bought about 4,709 Bitcoins at a total purchase price of $ 50 million.

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