Twitter CFO Ned Segal revealed during an interview that Jack Dorsey's company is considering the possibility of becoming an institutional investor in Bitcoin, in addition to paying its employees' salaries in this cryptocurrency.
The recent statements of Ned Segal, chief financial officer (CFO) of Twitter, conducted in an interview held by CNBC, detail that the company is considering integrating bitcoins into its balance sheets, in addition to having the cryptocurrency to pay employees who want it and suppliers. These statements are full of hope and positivism for the future of Bitcoin (BTC) and the crypto community, although it is important to mention that, for the moment, this is only a possibility under study and development, which has not yet been approved.
The mini-blogging company and social network, Twitter, is chaired by one of the most influential people in the crypto space, Jack Dorsey, who in addition to being CEO of Twitter, also serves as CEO of Square, one of the largest financial services and payment management companies in fiat and cryptocurrencies in the United States, which is also a major institutional investor in Bitcoin and a company that It has one of the most important crypto investment companies, Square Crypto, in the industry. With all these qualities, it is not surprising that Twitter managers are thinking about integrating Bitcoin into their balance sheets in the near future.
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Bitcoin for everyone, and everyone for Bitcoin
During the interview, Twitter CFO Segal also expressed that the company has been closely watching the financial and investment decisions of other companies in the market, including Bitcoin holdings. Based on this, Twitter is discussing the possibility of adding bitcoins to its accounting books, or using the currency to pay suppliers and employees.
The utility and value that Bitcoin offers have led it to become the digital currency of the Internet, one capable of carrying out cross-border transactions at low cost, of generating large profits and growing capital due to its rapid revaluation in the markets, and, most importantly , to offer transparency, independence and financial freedom, without depending on banks or financial or outsourced institutions. All of these qualities are leading Bitcoin to be the No. 1 preferred cryptocurrency in the world, chosen as a store of value by companies like MicroStrategy, MassMutual, Square and even large investment funds like Bill Miller's.
Institutional investment in Bitcoin
In 2020, several companies announced their investment plans in Bitcoin for 2021, while others are simply revealing the investments they have already made in this cryptocurrency. One of these cases is Tesla, which recently said before the United States Securities and Exchange Commission (SEC), which made an investment in Bitcoin of 1.500 billion dollars, when the value of the cryptocurrency was around $40.000 USD per unit, obtaining between 37.500 BTC and 49.000 BTC per time of purchase.
The initiative of Tesla, one of the most important and largest electric car manufacturing companies on the market, to invest in Bitcoin awakened spirits and institutional interest in the cryptocurrency; especially because with the value of Bitcoin at the close of this edition, Tesla's profits from the revaluation of Bitcoin exceed the company's profits from the sale of its cars in recent years, incredible, right?
Still, JPMorgan strategists they point out that the community at large cannot expect other companies to risk following in Tesla's footsteps, of buying bitcoins, immediately. The entity's analysts consider that the high risk related to this type of asset should be studied in depth by companies before making the decision to invest, since large investments make the price of the cryptocurrency become extremely volatile and risky. On the other hand, Michael saylor, CEO of MicroStrategy, and Cathi Wood, CEO of ARK Investment Management, point out that institutional investment, between 1% and 6% of companies' capital, could raise the price of Bitcoin to new levels never seen before.
Twitter and Square CEO Jack Dorsey began running a full node on bitcoin to contribute to the strengthening and robust functioning of the network.
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