Twitter RevealsPlans To Pay Staff In Bitcoin
-Twitter has revealed that it has plans to start using Bitcoin as a payment option for staff if they request it
-The social media giant is also looking to integrate the top cryptocurrency as a payment option and treasury reserve
-The company is also studying other companies closely to learn from them
Social media giant, Twitter has revealed plans to start paying staff in Bitcoin if they request the option.
The chief financial officer of the company, Ned Segal made this revelation in an interview with CNBC.
"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 if they asked to be paid in #btc and whether we need to have #btc on our balance sheet," says @NedSegal $TWTR. pic.twitter.com/KjIgnqDmYC
— Squawk Box (@SquawkCNBC) February 10, 2021
Mr. Segal also confirmed that the company plans to start using the virtual currency as a payment option and Treasury reserve.
He disclosed that the company has been making plans about how to pay people in cryptocurrency if they choose that option.
In other news: Check out our Cryto 101 article on “Why Cryptocurrencies rise and fall”
Square Inc., a company led by Twitter CEO, Jack Dorsey purchased 4,709 bitcoins in October 2020 for $50 million.
The company claimed that the investment was made because crypto is believed to be a tool for economic enhancement.
Also, Automobile giant Tesla, Monday announced divulged that it had made an investment of $1.5 billion in bitcoin.
This was one of the factors responsible for the rise in the value of the cryptocurrency to a new ATH
At the time of writing this report, Bitcoin is trading at $47,118 having reached an ATH of $48k.
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