Twitter’s CFO came out and say that the company has no immediate reason to invest in bitcoin. Ned Segal who is currently the CFO of Twitter went on an interview with Wallstreet Journal and points to the fact that volatility played a huge role in that decision.
“We [would] have to change our investment policy and choose to own assets that are more volatile,” Mr. Negal said. Despite no bitcoin being on twitter’s balance sheet. The company is assembling a team to see how best it can integrate bitcoin within its ecosystem.
One of their most recently launched applications is to give users who are “qualified” the right to get paid in bitcoin. This is still in its early stages, but it helps to give us a direction as to where Twitter and the idea of social media payments are going.
One of the key arguments businesses might have as not wanting to invest in cryptocurrencies is the volatility of the entire market. It’s a valid argument because it is indeed volatile. We have seen instances where businesses wanted to hold crypto assets as a form of an edge but due to the unpredictability of the entire thing, they called it off.
There is a reason why crypto giants such as Coinbase raised real cash and not digital tokens to run their operations.
Fiat Currency still fuels most businesses. It will probably take decades for that to stop due to the complexity involved. It will also take a lot of effort from governments to get everyone on board. Overtime expect companies to be some sort of hybrid though, a mixture of fiat-backed and digital currencies.
