Twitter Thought to Copy Tesla’s Bitcoin Bet, Says CFO
- Ned Segal, CFO at the social media platform, said Twitter had thought whether it could put part of its spare money into bitcoin.
Tesla's huge bet on bitcoin could be followed by other major corporates as Twitter has also thought about adding the cryptocurrency to its balance sheet. However, no decision to follow in the electric-car maker's footsteps has been made yet, Twitter's Chief Financial Officer told CNBC.
Ned Segal, CFO at the social media platform, said in an interview that Twitter had thought whether it could put part of their spare money into Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term. The idea would only aim to pay vendors or employees using bitcoin, should they ask to transact using the cryptocurrency.
Tesla's bitcoin purchase could further open up the idea to a whole new class of mainstream corporates and institutional investors.
“We might consider whether we would be transferring dollars to bitcoin at the time of the transaction or if we wanted bitcoin on our balance sheet ready to complete that transaction,” Segal said.
Twitter’s angle closely mimics its Founder and CEO, Jack Dorsey, one of bitcoin’s foremost proponents who has repeatedly shared his enthusiasm for digital currencies, saying it provides an “opportunity to get more people access to the financial system.” He went further than most by calling bitcoin “a transformational technology” and it will be the world’s single currency in 10 years.
Dorsey’s Payment Arm Already Bets on Bitcoin
Square Inc., a Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term company also founded and run by Dorsey, made headlines in October when it made a significant purchase of a little over 4,700 bitcoins. At the time of the transaction, the big bet worth nearly $50 million, but this value has more than quadrupled in only three months. Having met financial obligations to shareholders, the company carried through with its plans to invest around one percent of its total assets at the end of Q2 of 2020.
Explaining the rationale behind this move, Square’s CFO said he believes that bitcoin has the potential to be “a more ubiquitous currency” in the future. Continuing, he argued that as the cryptocurrency grows in adoption, they intend to “learn and participate in a disciplined way. For a company that is building products based on a more inclusive future, this investment is a step on that journey.”
Furthermore, Ahuja believes that bitcoin’s very structure will ensure that its value will only increase with time.
Tesla's huge bet on bitcoin could be followed by other major corporates as Twitter has also thought about adding the cryptocurrency to its balance sheet. However, no decision to follow in the electric-car maker's footsteps has been made yet, Twitter's Chief Financial Officer told CNBC.
Ned Segal, CFO at the social media platform, said in an interview that Twitter had thought whether it could put part of their spare money into Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term. The idea would only aim to pay vendors or employees using bitcoin, should they ask to transact using the cryptocurrency.
Tesla's bitcoin purchase could further open up the idea to a whole new class of mainstream corporates and institutional investors.
“We might consider whether we would be transferring dollars to bitcoin at the time of the transaction or if we wanted bitcoin on our balance sheet ready to complete that transaction,” Segal said.
Twitter’s angle closely mimics its Founder and CEO, Jack Dorsey, one of bitcoin’s foremost proponents who has repeatedly shared his enthusiasm for digital currencies, saying it provides an “opportunity to get more people access to the financial system.” He went further than most by calling bitcoin “a transformational technology” and it will be the world’s single currency in 10 years.
Dorsey’s Payment Arm Already Bets on Bitcoin
Square Inc., a Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term company also founded and run by Dorsey, made headlines in October when it made a significant purchase of a little over 4,700 bitcoins. At the time of the transaction, the big bet worth nearly $50 million, but this value has more than quadrupled in only three months. Having met financial obligations to shareholders, the company carried through with its plans to invest around one percent of its total assets at the end of Q2 of 2020.
Explaining the rationale behind this move, Square’s CFO said he believes that bitcoin has the potential to be “a more ubiquitous currency” in the future. Continuing, he argued that as the cryptocurrency grows in adoption, they intend to “learn and participate in a disciplined way. For a company that is building products based on a more inclusive future, this investment is a step on that journey.”
Furthermore, Ahuja believes that bitcoin’s very structure will ensure that its value will only increase with time.