Twitter may become the next major company to buy Bitcoin, technology company chief financial officer Ned Segal told CNBC.
The social media platform's chief financial officer said: Twitter has considered whether it may keep bitcoin on its balance sheet, but has not made any changes yet.
In an interview with CNBC, Segal said Twitter has thought about how to pay vendors or employees who use Bitcoin, if they ask to deal with virtual currency, and whether we need to get Bitcoin.
The technology company closely monitors other companies and discussed the possibility of adding encrypted assets to their own books or using them to pay their employees' salaries.
"We may think about whether we are converting dollars into Bitcoin at the time of transaction or if we want bitcoin in our balance sheet ready to complete that transaction."
Although the CFO said that Twitter has not made any changes yet, he added that the turning point could come if enough people are interested in doing BTC transactions with the technology company.
Segal's comments come two days after Tesla revealed that the automaker had bought $1.5 billion of cryptocurrency and could soon accept it as a way to pay for cars, raising the price of the cryptocurrency to a higher level.
If other multi-billion dollar companies announce similar purchases or credit plans, it could help push the price higher.
"This is something we're watching and valued, and if there's a strong demand from customers in the future, there's nothing to stop us from doing that," General Motors CEO Mary Barra said yesterday when asked about the acceptance of Bitcoin as a vehicle payment.
But unlike Musk, Barra said, we have no plans to invest in Bitcoin.
Twitter shares rose 11 percent on Tuesday after the company beat Wall Street's quarterly sales and profit targets and followed its social media counterparts to predict a strong start to 2021 as ad spending rose from the bottom.
Jack Dorsey, CEO of Twitter, is the CEO of Payments Square, a well-known bitcoin enthusiast, and said he believes the Internet will have its original currency.
Square said in October that it had bought about 4,709 Bitcoins at a total purchase price of $50 million.
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