The influx of institutional investors into Bitcoin is not going to be abating anytime soon as the chief financial officer (CFO) of leading social media company, Twitter, has disclosed that the firm is considering how to pay its employees in BTC. This was made known in an interview on CNBC’s Squawk Box.
Ned Segal, Twitter’s CFO since 2017, while reacting to a question about Tesla’s Bitcoin acquisition noted that the social media site is closely watching the actions of other firms and it may someday consider adding the asset to its balance sheet or as a payment method for its workers.
Segal, in his words says “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 should they ask to be paid in Bitcoin, and whether we need to have Bitcoin on our balance sheet.”
He noted that this process could be hastened if more people get interested in having Bitcoin transactions with the firm. Segal, however, highlighted that the tech company was yet to make any changes.
While Twitter’s market cap is considerably lower than that of Tesla, its adoption of the crypto king would nevertheless be a huge positive for the crypto market.
The social media site’s founder, Jack Dorsey, is an ardent supporter of Bitcoin and has made several calls for the adoption of the asset by the public. His other company, Square, has already purchased $50 million worth of the crypto asset last year.