Twitter CFO Says Buying Crypto Assets ‘Doesn’t Make Sense Right Now’: Report

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.

• Twitter wants to let users connect their accounts to third-party services that allow them to send tips in bitcoin and bring authentication for non-fungible tokens on its platform. Twitter has also started a crypto team.

Read more: Twitter to Add Bitcoin Lightning Tips, NFT Authentication