Investing in cryptocurrencies “doesn’t make sense right now,” Twitter CFO Ned Segal said, according to the Wall Street Journal.
- Twitter would have to change its investment policy to hold more-volatile assets on its balance sheet, Segal said. The company prefers to hold less-volatile assets such as securities, he added.
- Fintech firm Square, which is also headed and co-founded by Twitter CEO Jack Dorsey, Elon Musk’s Tesla and software firm MicroStrategy hold crypto on their balance sheets.
- Dorsey is a supporter of decentralized technology, including bitcoin and other cryptocurrencies.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.