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HomeCryptoCurrency'Investing in bitcoin is pointless right now': Twitter CFO

'Investing in bitcoin is pointless right now': Twitter CFO

Twitter’s CFO, Ned Segal assured that they will not invest the company’s cash in bitcoin (BTC).

According to the executive, doing that “does not make sense in this moment », since they would have to change their investment policy , and thus choose to“ own assets that are more volatile. ”

Also indicated that Twitter prefers to keep less volatile assets on its balance sheet. Currently, has assets such as cash, trade receivables and short-term investments .

«There is a different set of decisions that we would have what to take if we had to have cryptocurrencies on our balance sheet, “Segal told The Wall Street Journal newspaper.

Seagal’s position towards bitcoin, contrasts with that of Twitter’s own CEO, Jack Dorsey, a recognized maximalist of the leading cryptocurrency.

Recently, Dorsey announced that he is experimenting with the digital mining . Specifically, you are mining with Compass Mining, a service that hosts, supplies and operates cryptocurrency mining equipment for individuals.

The co-founder of Twitter has claimed that bitcoin has the potential to create a new financial infrastructure , more inclusive and comprehensive, suitable for communities neglected by the traditional financial system, as reported by CriptoNoticias.

Twitter has integrated bitcoin to its platform

Although Twitter does not want bitcoin in your balance, does use cryptocurrency in the operation of the social network .

Since last September, CriptoNoticias reported that bitcoins can be sent and received worldwide through an integration with the Strike application . The new modality is only available on Apple’s iOS operating system.

Additionally, Twitter this month announced the formation of a new team of specialized developers to explore the space of decentralized applications and cryptocurrencies.

The company said they are evaluating ways to incorporate decentralized technologies into their products and infrastructure. Short-term projects include payment systems that allow content creators to receive cryptocurrencies.

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Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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