Twitter’s Chief Financial Officer Takes a Very Different View on Bitcoin Investment Than CEO Jack Dorsey

Ned Segal, Twitter’s Chief Financial Officer (CFO), has shattered the internet with his unique position on Bitcoin investing.

Segal said yesterday in an interview that investing Twitter’s corporate capital in crypto assets such as Dorsey’s favourite, Bitcoin, “doesn’t make sense at the moment.” Twitter’s CFO revealed the shocking truth about the company’s current investment policy, revealing that the company prefers to hold relatively stable assets such as securities over highly volatile Bitcoin on its balance sheet, and that in order to invest the company’s money in crypto, Twitter “will have to change its investment policy and choose to own more volatile assets.”

Additionally, Segal emphasised the widespread worry of finance chiefs on Twitter about crypto’s volatility, noting that price fluctuations are one of the primary reasons they do not utilise crypto for corporate investments. Additionally, finance departments at a number of large US firms have addressed the problem of the necessity for crypto assets to have their own accounting standards and procedures. Industry titans have petitioned the Financial Accounting Standards Board to provide guidelines for how crypto assets should be treated. “If we were to possess cryptocurrencies on our balance sheet, we would face a new set of considerations,” Segal said.

Internal Twitter Conflicts of Interest

The Twitter CFO’s position on Bitcoin investment contradicts everything that Twitter CEO Jack Dorsey has ever stood for, sparking suspicion of an internal conflict of interest at the company. While Twitter has maintained a pro-crypto posture in the market for a long period of time, when a financial official reveals an anti-crypto investment policy, the community is left bewildered about the platform’s objective, which for many years has given voice to the decentralised sector. From the inception of the Bitcoin tipping feature and the subsequent NFT drop, to the formation of Twitter’s Crypto team to expand its reach “beyond cryptocurrencies” and work toward the expansion and enhancement of crypto, blockchains, and other decentralised technologies, the social media platform has consistently expressed its support for the crypto community.

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