in

CFO of Tech Giant Twitter Rules Out Holding Bitcoin on Balance Sheet for Time Being: Report

CFO of Tech Giant Twitter Rules Out Holding Bitcoin on Balance Sheet for Time Being: Report


Twitter’s chief financial officer says the social media giant has no immediate plans to invest in Bitcoin (BTC).

In an interview with the Wall Street Journal, Ned Segal cites crypto price volatility as one factor influencing the company’s decision.

Segal says,

“We [would] have to change our investment policy and choose to own assets that are more volatile.

[That] doesn’t make sense right now.”

Last week, Twitter hired blockchain veteran Tess Rinearson as part of a new initiative called Twitter Crypto.

Rinearson said in a series of tweets,

“I’ve joined Twitter to lead a new team focused on crypto, blockchains, and other decentralized technologies – including and going beyond cryptocurrencies.

We’ll be working to figure out what crypto can do for Twitter, as well as what Twitter can do for crypto. Twitter truly ‘gets’ crypto (hello bitcoin tipping & NFTs!) but there’s so much more to explore…”

Twitter CEO Jack Dorsey is on record as a BTC bull. His other venture, financial services and digital payments company Square has the fifth-largest corporate holdings of Bitcoin.

At time of writing, Square owns 8,027 BTC valued at $482.8 million, according to Bitcoin Treasuries.

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/agsandrew/Sensvector





Source link

Leave a Reply

Your email address will not be published.

GIPHY App Key not set. Please check settings

What do you think?

Crypto Poised To Rise 100-Fold As Value of Fiat Currency Crumbles, According to Macro Guru Raoul Pal

Crypto Poised To Rise 100-Fold As Value of Fiat Currency Crumbles, According to Macro Guru Raoul Pal

26% Aussie Crypto Holders To Use Crypto For Christmas Gifts – Survey   – Cryptovibes.com – Daily Cryptocurrency and FX News

26% Aussie Crypto Holders To Use Crypto For Christmas Gifts – Survey   – Cryptovibes.com – Daily Cryptocurrency and FX News