Twitter Rules Out Bitcoin Investment

• Twitter CFO Ned Segal has disclosed that the company is not going to invest in Bitcoin at the moment

• While speaking during an interview on Bloomberg TV, Segal claimed that it doesn’t make sense for the social media company to invest in crypto assets right now

• The CFO’s comments represent a stark contrast to those of Twitter CEO Jack Dorsey who is a huge supporter of BTC

Twitter’s chief financial officer Ned Seagal disclosed on Monday that the company will not invest in cryptocurrency assets at the moment.

While speaking to the Wall Street Journal, Seagal claimed that the assets are currently too volatile and the company would rather invest in securities and assets that fluctuate less.

The CFO told the journal that making a cryptocurrency investment will force the company to alter its investment policy.

Seagal’s comments however are very different from those of the CEO of the company Jack Dorsey who is a popular Bitcoin advocate.

Dorsey has often expressed that he is bullish on bitcoin. Even while speaking at the 2021 conference in Miami, he stated that there’s nothing more important to work on in his lifetime.

In addition to that, Dorsey’s payment company Square had previously invested in Bitcoin.

The chief financial officer of Square stated in March that there is a case for every balance sheet to have Bitcoin.

Twitter also announced that it was building a cryptocurrency team last week with the aim of investigating how creators on its platform can earn money through crypto.

Bitcoin fell below $60,000 on Tuesday as the entire cryptocurrency market suffered a dip. At press time, the flagship cryptocurrency is valued at $60,500, according to CoinMarketCap.

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