Twitter is not jumping on the trend bandwagon among some Wall Street companies of invest in bitcoin and other cryptos as part of your treasury operations. Investing some of Twitter’s corporate cash in crypto assets like bitcoin “doesn’t make sense at the moment,” Ned Segal said in an interview with the Wall Street Journal.
“We would have to change our investment policy and choose to own assets that are more volatile.”Segal pointed out, adding that the company prefers to keep less volatile assets such as securities on its balance sheet.
These statements collide with the actions of Square, the payments company run by Jack Dorsey, who is also the CEO of Twitter, which has revealed that they own crypto assets. “We have bought bitcoin for our own balance sheet, which we believe not only shows that we have skin in the game … but could also provide attractive long-term financial benefits,” Square CFO Amrita Ahuja said in a interview last month.
Twitter declared $ 3.47 billion in cash and cash equivalents at the end of September, up from $ 1.99 billion in the prior period, along with short-term investments of $ 3.94 billion.