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.
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/agsandrew/Sensvector
