Twitter Chief Financial Officer: Crypto investment doesn't make sense right now
Nov 16, 2021
Twitter CFO Ned Segal stated that they prefer not to invest due to the activity in crypto assets
Twitter CEO Dorsey is among the world's leading crypto advocates. One of the questions that come to mind is how does Jack Dorsey not invest in crypto even though he is such a BTC supporter? The answer lies in the company's CFO, Ned Segal.
The fact that crypto-assets are not offered under certain financial rules, but also cannot be surrounded by certain frameworks, complicates things for CFOs. According to Twitter Chief Financial Officer Ned Segal, the volatility in crypto assets is quite high. That's why Segal said in an interview on Nov. 15 that he thinks it "doesn't make sense right now" to invest some of Twitter's corporate finances in crypto assets like bitcoin. According to the CFO, there are no plans to buy any BTC shortly.
Segal added that the company prefers to keep less volatile assets such as securities on its balance sheet;
“We must change our investment policy and choose to have more volatile assets.”
According to Segal, Bitcoin makes no sense to Twitter, but the possibilities it can offer individual users are exciting.
Segal, who is optimistic about NFTs, said the following about NFT:
“Over time you will see more trading opportunities, but the investment need not be a physical asset. Trading can mean helping someone trade where they subscribe to a new service, it could be buying an NFT. It doesn't have to be physical."