Two days after Tesla revealed that it had bought $ 1.5 billion worth of cryptocurrency
Twitter could be the next major company to buy Bitcoin, according to the technology company’s chief financial officer, Ned Segal, told CNBC.
The chief financial officer of the social networking platform said: “Twitter has considered whether it might keep Bitcoin in its balance sheet, but it has not made any changes yet.”
“Twitter has thought about how to pay vendors or employees who use Bitcoin, if they ask to transact using the virtual currency, and whether we need to have Bitcoin,” said Segal.
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 to be ready to complete that deal.”
Segal’s comments come two days after Tesla revealed that the automaker had bought $ 1.5 billion of cryptocurrency and may soon accept it as a payment method for cars, pushing the price of the cryptocurrency to a higher level.
GM “don’t mind”!
And if other billions of dollars of companies announce similar purchases or certification schemes, that could help push the price higher.
In turn, the CEO of General Motors, Mary Barra, said yesterday, in response to a question about accepting Bitcoin as a payment for vehicles: “This is something we monitor and evaluate, and if there is strong demand from customers for it in the future, there is nothing that prevents us from doing so.”
Unlike Musk, however, Parra said, “We have no plans to invest in Bitcoin.”
Twitter shares rose 11% on Tuesday after the company beat Wall Street targets for sales and quarterly earnings and followed up on its social media counterparts to predict a strong start to 2021 as ad spending rises from the bottom.
In addition, MasterCard said it plans to provide support for some cryptocurrencies across its network this year, joining a series of large companies that pledged to provide similar support.
The company announced the expansion of its cryptocurrency program, making it simpler and faster for partners to offer secure and compatible payment cards to the market.
To enhance the partnership experience, cryptocurrency and cryptocurrency partners are invited to join the Mastercard Accelerate program for emerging brands and fintech companies, giving them access to everything they need to grow quickly.
Investment management firm BlackRock, payment firms Square and PayPal have also supported cryptocurrencies recently.