CFO of Tech Giant Twitter Rules Out Holding Bitcoin on Balance Sheet for Time Being: Report

Twitter’s chief financial officer says the social media giant has no immediate plans to invest in Bitcoin (BTC).

In an interview with the Wall Street Journal, Ned Segal cites crypto price volatility as one factor influencing the company’s decision.

Segal says,

“We [would] have to change our investment policy and choose to own assets that are more volatile.

[That] doesn’t make sense right now.”

Last week, Twitter hired blockchain veteran Tess Rinearson as part of a new initiative called Twitter Crypto.

Rinearson said in a series of tweets,

“I’ve joined Twitter to lead a new team focused on crypto, blockchains, and other decentralized technologies – including and going beyond cryptocurrencies.

We’ll be working to figure out what crypto can do for Twitter, as well as what Twitter can do for crypto. Twitter truly ‘gets’ crypto (hello bitcoin tipping & NFTs!) but there’s so much more to explore…”

Twitter CEO Jack Dorsey is on record as a BTC bull. His other venture, financial services and digital payments company Square has the fifth-largest corporate holdings of Bitcoin.

At time of writing, Square owns 8,027 BTC valued at $482.8 million, according to Bitcoin Treasuries.

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