"We focus on the primary market, and release the potential advantage of the coin circle every day, welcome the attention of the same good."
In an interview, Twitter's CFO Ned Segal talked about Bitcoin's implementation in the platform. In his view, cryptocurrencies will become a tool to "promote business" on social networks.
Twitter and its founder and CEO Jack Dorsey pioneered the integration of Bitcoin through a number of initiatives. The social network recently launched a hint feature that allows users to send money in BTC on the Second Tier Payment Solution Lightning Network.
In addition, Siegel claims that Bitcoin will be the key to "breaking down the barriers between content creators and their audiences." This way, those seeking unique content will have more access, and creators will be supported by BTC's censorship resistance network.
However, Twitter's chief financial officer claims the company is not ready to add bitcoin to its balance sheet. Despite Dorsey's stance on cryptocurrencies and the long-term considerations of the company's board, Siegel believes that "it doesn't make sense today." The executive added:
We will have to change our investment policy and change our views more broadly in order to add Bitcoin to our balance sheet (...) ）。 Given the type of securities we buy, the risk profile, the volatility, this doesn't make sense today, but we will continue to pay attention and think about it over time.
In the long run, Twitter's CFO sees great potential to improve business on the platform and diversify its business across multiple areas. Segal says that the irreplaceable token (NFT) has become a core component of achieving this goal:
Over time, you'll see more business opportunities, but business doesn't necessarily mean buying physical goods. Commerce could mean helping someone transact where they subscribe to a new service, which could mean buying an NFT. It doesn't have to be physical.
Twitter's CEO recently released a prediction that has attracted a lot of attention. In the case of monetary policy adopted by the Federal Reserve and its chairman, Jerome Powell, the indicators appear to indicate that global inflation is rising and is likely to persist. Dorsey says:
Hyperinflation will change everything. Happening (... ）。 It will soon happen in the United States, and so will the world.
Dorsey sees Bitcoin as the solution to this problem and more. Siegel, however, was less outspoken in his interview, claiming that it was "too early to make a phone call at this point."
The executive did acknowledge that "partial" inflation in its business, supply chain and personal business has been rising.
Time will tell if Twitter adopts the Bitcoin standard due to inflation or adoption. The company's CEO seems to gravitate toward the former.
Bitcoin is currently trading at $58,755, down 6.3% on the daily chart.
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