Twitter CFO: Investing in Bitcoin now is unwise due to excessive volatility and lack of accounting standards!

Twitter CEO Jack Dorsey is a well-known Bitcoin enthusiast in the cryptocurrency community. However, Twitter CFO Ned Segal recently shared the company's perspective on investing in cryptocurrencies in an interview, pointing out the reasons why most corporate CFOs are hesitant to invest in such assets.

Cryptocurrency Investment Not Suitable

According to a report by the Wall Street Journal, Twitter's Chief Financial Officer Ned Segal stated in an interview on Monday that it is not wise at the moment to invest some of Twitter's cash in cryptocurrency assets such as Bitcoin.

"We have to change our investment policy to choose assets with greater volatility. But the company prefers to hold assets with lower volatility on its balance sheet, such as securities," added Ned Segal.

Ned Segal's statement echoes the common concerns of most corporate CFOs. They are hesitant to let companies invest in digital currencies and assets mainly due to the high volatility of such assets and the lack of standardized accounting principles.

Furthermore, Ned Segal also mentioned that although the company has been studying Bitcoin for some time, making the decision to add crypto assets to the balance sheet would require a series of decisions different from the past.

Twitter's Involvement in the Crypto Industry

While Twitter has not yet embraced cryptocurrency assets in terms of investment, Twitter CEO Jack Dorsey is a staunch Bitcoin enthusiast. His payment company, Square, purchased $50 million and $170 million worth of Bitcoin in the fourth quarter of last year and the first quarter of this year, respectively.

This month, Twitter also introduced Bitcoin tipping features based on the Lightning Network and NFT profile verification, and announced the establishment of a crypto team, "Twitter Crypto," last week, aiming to integrate decentralized, blockchain, and cryptocurrency technologies into the social platform.

Therefore, although Ned Segal is concerned about the volatility of cryptocurrency assets and maintains a cautious attitude, it does not mean he denies the potential of crypto assets. As Twitter continues to explore the crypto space, Ned Segal may gradually change his stance on the investment allocation for Twitter.