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bitcoin

Twitter CFO says there is no plan to hold Crypto Assets in its Balance Sheet

Twitter Chief Financial Officer (CFO)  Ned Segal believes the social media giant will not immediately invest in crypto assets, stating that it “doesn’t make sense now.”

“We [would] have to change our investment policy and choose to own assets that are more volatile,” Mr. Segal said, suggesting that the microblogging platform would rather hold nonvolatile assets on its balance sheet. 

RELATED: Investors in Spain must report crypto assets held abroad to tax authorities

NEWSBSC Crypto Assets (Twitter Image)

Last week, Twitter set up a team including crypto engineering leader Tess Rinearson to lead its “Twitter Crypto” initiative.

Twitter and Square Inc. CEO Jack Dorsey is a renowned bitcoin bull. Square Inc. CFO Amrita Ahuja last month revealed the firm holds crypto assets in its balance sheet.

NEXT: Shiba Inu now supported by CoinGate

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Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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