January 22, 2022

Twitter CFO Ned Segal Says Investing In Bitcoin ‘Doesn’t Make Sense Right Now’

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Jack Dorsey, the CEO of Twitter is always seen preaching how significant cryptocurrencies and the idea of decentralization are. He has said multiple times before that if he was not busy with Twitter then he would definitely be doing something with Bitcoin and launching new decentralized projects. But that has not stopped Jack Dorsey from doing so as multiple decentralized projects have been launched by Twitter with the recent one being the Bitcoin tipping system for creators.

But the CFO of Twitter seems to be at odds with this concept and has said in a recent tweet that this is no time to invest in crypto. According to Ned Segal Twitter should refrain from investing in the crypto market because of the added volatility apart from skyrocketing inflation rates. He sees both Bitcoin and altcoins in the same capacity at the moment and doesn’t think that there are enough good opportunities out there for Twitter to take part in investing its useful assets into the crypto market.

Crypto Assets are Volatile

The CFO of Twitter has said that digital currencies and even non-fungible tokens at the moment are too volatile and Twitter should not be anywhere near them. On the other hand, it could hold securities on its balance sheet because these would remain pretty significant and consistent in terms of price movement. All of these things were recorded by Ned in a recent interview with the Wall Street Journal. When asked about the current movement of Twitter into investing a solid amount of money for developing decentralized apps and other such initiatives Ned said that these opportunities are for the sake of development and integrating new software which is pretty much alright.

But As for investing directly into the crypto market, this thing is not backed by the company’s investment policy. He said that if Twitter was to invest directly into the crypto market then the very investment policy of the company needs to change to buying assets that are more volatile. Ned said that the difference of decisions might occur if at some point Twitter was to hold cryptocurrencies such as Bitcoin on its balance sheet. He knows how optimistic Jack Dorsey, CEO of Twitter around the prospect of owning cryptocurrencies is.