The wave of institutional investment in bitcoin (BTC) is growing at an incredible rate, with Twitter as the potential next addition to the list of companies to join. As confirmed by the company’s CFO, Ned Segal, they are currently evaluating the inclusion of an investment in the cryptocurrency, although they have not yet made a decision or taken any step in that direction.
During In an interview with the US chain CNBC, Segal stated this Wednesday, February 10, that the company that created one of the main social networks in the world is paying close attention to the possibility of investing in bitcoin. And it would seem a logical step, given the public support of Jack Dorsey, co-founder of Twitter, to the cryptocurrency.
On the current climate of institutional interest towards bitcoin, Segal explained that they have continued to close the financial decisions that other companies make, including investing in bitcoin. Even, have evaluated scenarios of payments to employees and suppliers with cryptocurrency and how this dynamic could work.
We have thought a lot to consider how we could pay employees if they request to be paid in bitcoin, how we could pay a provider if they request to be paid in bitcoin, and if we need to have bitcoin on our balance or change at the time of payments .
Ned Segal, CFO of Twitter.
Although I already know pose a hypothetical entry into bitcoin, Segal noted his approach to BTC is the same as with “all the other types of risk we have.” For the executive, perhaps the turning point for his entry into bitcoin would be precisely to find a commercial counterpart requesting payments in the cryptocurrency.
Jack Dorsey, Twitter and bitcoin: a long relationship
One of the most famous bitcoiners is precisely the co-founder and CEO of Twitter, Jack Dorsey . For the businessman, bitcoin is the equivalent of a «national currency» of the internet, according to statements reviewed by CriptoNoticias in 2019.
Dorsey not only has endorsed the open source project in many ways, instead has invested in keeping the work of developers contributing to Bitcoin going.
First, offering contracts paid with BTC for those who are dedicated to the development of projects and improvements for Bitcoin. Then, launching a grant system through its cryptocurrency-focused company, Square Crypto.
In October last year, Square invested $ 50 million in BTC, a figure that equaled 1% of the company’s assets. Since then, Square has been part of the list of large investors that have been entering bitcoin in recent months.
In addition to Dorsey’s company, other companies stand out, such as MicroStrategy, which has created an investment fund to accompany the entry of other companies and has openly promoted Bitcoin in the institutional sphere.
The interest that bitcoin has aroused reached large investment funds, such as those of the magnate Bill Miller ; investor Stanley Freeman Druckenmiller or SkyBridge Capital. Even Elon Musk’s electric car manufacturing company Tesla joined the party recently, investing $ 1.5 billion.
Meanwhile, bitcoin follows breaking its all-time highs and at the time of writing this article exceeds $ 46,000 per coin.
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