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Twitter may pay its employees, vendors in Bitcoins; purchase on cards, CFO says

Twitter CEO Jack Dorsey had earlier declared his "passion" for bitcoin while explaining the social media giant's decision to ban US President Donald Trump from the platform following violent riots on Capitol Hill.

February 11, 2021 / 04:30 PM IST

Twitter is considering incorporating bitcoin in its balance sheet but no changes have been made yet, the company's CFO Ned Segal told CNBC.

"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," the CFO said.

He said that the social media giant "continues to study and look at and want to be thoughtful about it overtime."

Recently, Tesla revealed that it has $1.5 billion worth of bitcoin following which the prices of the cryptocurrency surged touching as high as $43,200.

Twitter CEO Jack Dorsey had earlier declared his "passion" for bitcoin while explaining the social media giant's decision to ban US President Donald Trump from the platform following violent riots on Capitol Hill.

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"The reason I have so much passion for #Bitcoin is largely because of the model it demonstrates: a foundational internet technology that is not controlled or influenced by any single individual or entity," Dorsey had tweeted.

Digital payments company Square, another company that Dorsey oversees as the CEO had invested $50 million in bitcoin in October 2020.
Moneycontrol News
first published: Feb 11, 2021 04:30 pm

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