Twitter is considering adding bitcoin to its balance sheet, CFO says

<p><img src="https://static2.businessinsider.com/image/6024123467d1e300113c547c-2400/2020-06-12t080112z_2_lynxmpeg5b0p9_rtroptp_4_china-twitter-disinformation.jpg" border="0" alt="FILE PHOTO: A 3D printed Twitter logo is seen in front of a displayed cyber code in this illustration taken March 22, 2016. REUTERS/Dado Ruvic/Illustration" data-mce-source="Reuters" data-mce-caption="FILE PHOTO: 3D printed Twitter logo is seen in front of a displayed cyber code"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><ul><li aria-level="1"><strong>Twitter has considered whether to add bitcoin to its balance sheet, CFO Ned Segal told CNBC.&nbsp;</strong></li><li aria-level="1"><strong>Segal said the company has thought about how they would pay a vendor if they asked to be paid in bitcoin.</strong></li><li aria-level="1"><strong>He said no changes have been made yet.&nbsp;</strong></li><li aria-level="1"><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell'utm_source=markets&amp;utm_medium=ingest"><strong>Sign up here for our daily newsletter, 10 Things Before the Opening Bell.</strong></a></li></ul><hr><p><a href="https://markets.businessinsider.com/stocks/twtr-stock">Twitter</a> has considered whether to add <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a> to its balance sheet, though no changes have been made yet, according to CFO Ned Segal. <br><br>Segal said in a <a href="https://www.cnbc.com/video/2021/02/10/twitter-cfo-ned-segal-reacts-to-elon-musks-bitcoin-purchase.html">CNBC interview Wednesday</a> that the social media giant continues to "study and look at" incorporating bitcoin into its finances.&nbsp;</p><p>"We've done a lot of the upfront thinking to consider how we might pay employees should they ask to be paid in bitcoin, how we might pay a vendor if they asked to be paid in bitcoin and whether we need to have bitcoin on our balance sheet should that happen," said the CFO. "We want to be thoughtful about it over time, but we haven't made any changes yet."&nbsp;</p><p>Twitter would follow the lead of Tesla, which revealed on Monday it had <a href="https://www.businessinsider.com/tesla-buys-bitcoin-elon-musk-stock-accept-form-of-payment-2021-2'utm_source=markets&amp;utm_medium=ingest">bought up $1.5 billion of bitcoin</a> in January and plans to start accepting the cryptocurrency as payment. The news sent bitcoin to an all-time high <a href="https://markets.businessinsider.com/news/stocks/bitcoin-price-record-high-48000-elon-musk-tesla-michael-novogratz-2021-2-1030059669">above $48,000</a> earlier this week. The cryptocurrency is currently trading around $45,000.</p><p>A bitcoin announcement from Twitter may not come as a surprise to investors, as CEO Jack Dorsey is a <a href="https://www.businessinsider.com/jack-dorsey-plugs-bitcoin-in-trump-twitter-ban-tweets-2021-1">passionate fan of the cryptocurrency</a>. He's also the CEO of payments company Square, which purchased <a href="https://www.businessinsider.com/bitcoin-price-square-buys-million-ubiquitious-potential-currency-digital-tech-2020-10">$50 million worth of bitcoin in October of last year</a>, which represents approximately 1% of the firm's total assets.</p><p><strong><em>Read more: </em></strong><a href="https://www.businessinsider.com/stocks-to-buy-online-retail-pandemic-picks-structural-winners-bofa-2021-2" target="_blank" rel="noopener"><em>BANK OF AMERICA: Buy these 7 online-retail stocks that are 'structural winners' set to build on strong 2020 gainsincluding one with 41% upside</em></a></p><p><a href="https://markets.businessinsider.com/currencies/news/twitter-bitcoin-balance-sheet-tesla-cfo-considering-adding-cnbc-segal-2021-2-1030068235#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/what-its-like-to-do-your-own-taxes-for-the-very-first-time-2018-2">July 15 is Tax Dayhere's what it's like to do your own taxes for the very first time</a></p>
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