Ned Segal – Chief Financial Officer of Twitter – sees bitcoin and the altcoins as a highly volatile asset class at the moment. As such, he believes the current landscape does not provide enough good opportunities for new investors to get in.
It Is Not The Right Time
Digital currencies are currently too volatile, and Twitter would instead hold on its balance sheet assets that remain relatively flat in their price movements, such as securities. This is what the 47-year-old financer and company CFO – Ned Segal – asserted in a recent interview with the Wall Street Journal. To choose bitcoin or any alternative coins, Twitter should change its investment policy, he concluded:
“We would have to change our investment policy and choose to own assets that are more volatile.”
It is worth noting that earlier this year, Segal – who has been in charge of Twitter’s finance division since 2017 – said the company had studied the option of using bitcoin. Now, though, he didn’t seem very optimistic:
“There is a different set of decisions we would have to make if we were to own cryptocurrencies on our balance sheet.”
However, the volatility in the cryptocurrency industry is not such a scary feature for some other experts. Kevin O’Leary – the popular investor known as Mr. Wonderful – believes institutions are not afraid of the volatile nature of bitcoin and the altcoins. Instead, they find it attractive and “want to play.”
Matt Rockman – one of the founders of the Australian human resource consulting company SEEK Ltd. – is another example. Not long ago, he said volatility, government oversight, and danger are factors that catch the attention of investors. Touching upon bitcoin, he opined it is both exciting and terrifying, just like “any good technology should be.”
Twitter’s CEO Is a BTC Bull
While Ned Segal expressed some concerns regarding the cryptocurrency industry, Jack Dorsey – Chief Executive Officer at Twitter – is on the opposite corner. The latter is, by all means, among the most prominent proponents of bitcoin and often praises its merits.
During the 2021 Bitcoin Conference, he even vowed to leave Square and Twitter if BTC needed his help. He went further, stating that the primary digital asset is the most important work in his lifetime:
“I don’t think there’s anything more important in my lifetime to work on, and I don’t think there’s anything more enabling for people around the world.”
In a separate appearance, Dorsey said he sees BTC and its use cases as a highly beneficial financial instrument that can decentralize social media even more. As such, he thinks the asset will play a vital role in Twitter’s future.
Featured Image Courtesy of CNBC