Twitter seems to be following the Tesla way of integrating bitcoin into its organization. According to Ned Segal, CFO suggesting they may delve into paying employees and vendors with bitcoin.
A news publication on cointelegraph claimed that Ned Segal, who is the CFO of Twitter, said that they might pay employees and vendors using bitcoin. Segal says that they have decided to ask them if they want to be paid using bitcoin.
The tech firm’s chief financial officer answered questions during an interview on CNBC’s Squawk Box today. Segal was asked about the response to Tesla investing $1.5 billion into bitcoin.
Gordon Gekko is Ready for #Bitcoin $250,000, who is a bitcoin holder since 2013 had this to tweet on Twitter going to pay its employees in bitcoin.
"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 …"https://t.co/FkpzUi8ggt
— Gordon Gekko is Ready for #Bitcoin $250,000 (@gordongekkonl) February 10, 2021
The CFO made it clear that the firm hasn’t made any substantial changes as of now. However, in due time, things could change if players demand it. They may play the wait and watch the game because they are dealing with players from different countries.
Jack Dorsey endorsing bitcoin
Jack Dorsey, who is the CEO of Twitter, has made his affinity towards bitcoin out in the open. Dorsey has a passion for bitcoin. The CEO found himself explaining reasons for banning Donald Trump, the USA’s former President, from the social media site, due to Capitol Hill’s violence.
Dorsey said that he has an immense passion for bitcoin because it is the foundational internet technology, and everybody has the same playing field. There is nobody controlling the currency, which makes it equally attractive to do business with.
Dorsey has already ventured into the cryptocurrency by purchasing Square, in which the Twitter CEO invested $50 million last year in October 2020. Anthony “Pomp” Pompliano says that CFOs will be questioned if they will follow Tesla’s move.
Nathan Cox, the CIO at Two Prime, also added that digital currencies are beginning to play a massive role in sheet management. It will not be surprising to see many organizations making the delve into bitcoin.
However, this is a sign that is too hard to ignore. Probably, it is a sign of things to come shortly. Twitter stock was able to raise more than 10% since their recent earnings report. Interestingly, the bitcoin price plunged 5% to stand at $44,880.