In a Monday interview, Twitter’s top financial manager Ned Segal said that at the moment the firm doesn't find it beneficial to invest corporate capital in BTC or other crypto.
Related: Jack Dorsey Revealed Plans for Creating a BTC Mining System
As the CFO says, instead of investing in volatile currencies, Twitter needs to add more stable assets like securities to its balance sheet.A late September report shows that Twitter holds $3.47 bln in cash and cash equivalents. For the same period last year, the amount was $1.99 bln. In February, Segal said that the team was studying how to use Bitcoin. He noted that having crypto on the fin. statement would require distinctive rules.
The CEO of Twitter, Jack Dorsey is one of the major Bitcoin supporters. He mentioned the benefits of the coin lots of times in his talks. The social media app has added the crypto tipping feature. Also, users can install NFTs as their profile photos. Recently, Twitter announced building a blockchain-focused team to create dapps, NFTs, and other products based on public ledgers.