Twitter surges 13%… “Bitcoin holdings reviewed but not executed


Twitter has said it has reviewed its bitcoin holdings but has not put it into action yet.

Twitter’s Chief Financial Officer Ned Segall (CFO) said in an interview with CNBC Broadcasting on the 10th (local time) whether to hold bitcoin in the company’s financial statements, but said there was no change in assets in the financial statements yet.

Twitter CFO Segall said it had reviewed how to pay if a partner or employee asked for a payment or wage in bitcoin. “We considered whether to convert the dollar into bitcoin when the payment is made or to add bitcoin to the financial statements as a preparatory work for this settlement to be completed,” he explained.

Twitter’s CFO’s remark came shortly after Tesla’s CEO Elon Musk bought $1.5 billion worth of bitcoin and said it would accept bitcoin as a payment method in the future. According to the news of Tesla, Bitcoin surged nearly 20%, crossing the $47,000 mark and reaching an all-time high.

According to Coinbase, as of 5:20 p.m. Eastern time on the same day, Bitcoin fell 4% to the $45,150 level.

On this day, Twitter shares ended up soaring 13% on the New York Stock Market. Sales and profits exceeded expectations in the earnings after the market close the previous day, and the number of users last month increased more than the 4-year average.

One of Twitter’s co-founders, Jack Dorsey, is an avid Bitcoin advocate. The CEO of Square, an online payment company, said the city would have its own payment currency for the Internet. Square paid $50 million to buy 4,709 Bitcoins in October last year.

On the same day, General Motors CEO Mary Barra replied, “If consumers strongly ask for it in the future while monitoring, it is not impossible to accept bitcoin” when asked whether to accept bitcoin as a payment method for car purchases in an earnings call. However, unlike Musk, CEO Barra stressed that “I have no plans to invest in Bitcoin right now.”