Twitter Considering Bitcoin Reserves

jack dorsey 2019

Twitter Inc, the social media stock trading platform with about $54 billion in market cap, is considering holding bitcoin in their balance sheet. Ned Segal, Twitter’s Chief Financial Officer, stated in an interview that they have been thinking about bitcoin. He said: “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. We want to be thoughtful about it over time, but we haven’t made any changes yet.” Twitter holds about $2 billion in cash as of 2019 with some $4.8 billion held in short term investments. In contrast Tesla held $6.5 billion in cash in 2019 and nothing in short term investments, hence they bought $1.5 billion worth…

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