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February 11, 2021 08:05 pm

Twitter Has Studied Using Bitcoin, CFO Says

Twitter's finance chief said the social-media company has thought about how it might pay employees or vendors using the popular cryptocurrency bitcoin. From a report: Chief Financial Officer Ned Segal, in speaking Wednesday with Andrew Ross Sorkin on CNBC's "Squawk Box," said the company continues to review potential uses of the digital currency. "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 ask to be [paid] in bitcoin and whether we need to have bitcoin on our balance sheet should that happen," Mr. Segal said. "It's something we continue to study and look at, we want to be thoughtful about over time, but we haven't made any changes yet." Twitter Chief Executive Jack Dorsey is a bitcoin advocate. Payment company Square, which Mr. Dorsey also leads, recently acquired about $50 million worth of bitcoin for its corporate treasury. Mr. Segal's comments came days after electric-vehicle maker Tesla said it had purchased $1.5 billion in bitcoin. Tesla also said Monday that it expects to start accepting the cryptocurrency as payment from customers soon. The Twitter CFO said the company is weighing a number of factors in considering what role, if any, the cryptocurrency might play in its business.

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