Twitter and GM Are Considering Adding Bitcoin to Their Balance Sheets

Twitter may be pursuing adding Bitcoin to its balance sheet, to follow Square, which is also run by Jack Dorsey. The firm’s chief financial officer Ned Segal indicated in an interview with CNBC that the firm is considering BTC as an asset that it can add to its balance sheet.

This discussion comes after Tesla shocked the world when it was unveiled to have bought a large sum of Bitcoin recently.

Related Reading: Wall Street Veteran Kickstarts Own Bitcoin Fund With $25m Investment

Twitter to Buy Bitcoin Next?

Twitter may be the next large firm to buy bitcoin, according to a recent interview with the firm’s CFO and CNBC. The executive said that Twitter has done a “lot of the upfront thinking” in terms of how it can get involved in Bitcoin and cryptocurrency, specifically mentioning adding the asset to its balance sheet as a potential path it can take.

“We have 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.”

"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 #btc and whether we need to have #btc on our balance sheet," says @NedSegal $TWTR. pic.twitter.com/KjIgnqDmYC

— Squawk Box (@SquawkCNBC) February 10, 2021

This comes shortly after the chief executive of GM said in a comment that his firm currently has “no plans” to invest in Bitcoin but will “continue evaluating.” The key word here is “continue,” suggesting that the firm was already considering making such a decision.

GM CEO SAYS NO PLANS FOR COMPANY TO INVEST IN BITCOIN BUT WILL CONTINUE EVALUATING

— *Walter Bloomberg (@DeItaone) February 10, 2021

Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing

Featured Image from Unsplash
Chart from TradingView.com
Price Tags: xbtusd, btcusd, btcusdt
Twitter and GM Are Considering Adding Bitcoin to Their Balance Sheets