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Twitter considering making use of Bitcoin

Days after electric-vehicle maker Tesla took upon itself to invest $1.5 billion in Bitcoin, the social media giant Twitter’s chief financial officer said that the his company too is taking into consideration the possibility of paying both its employees as well as its vendors by using bitcoin.

During an interview which took place with CNBC, Twitter CEO in Ned Segal claimed that the company is still under the process of reviewing the potential use-cases of the popular cryptocurrency. It is also indeed considering whether or not Twitter needs to have a digital asset present on its balance sheet.

While purchasing bitcoin or indeed any other cryptocurrency does seem like too lucrative an offer to ignore, the adoption has in fact been quite slow mainly down to the fact that there happens to be a rather large amount of regulatory scrutiny associated with the currency. The United States Treasury Secretary in Janet Yallen recently warned that the misuse of cryptocurrencies was a growing problem and that she has also previously gone on to raise concerns about the use of cryptocurrencies for the same reason.

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While Tesla has already took upon the decision of purchasing bitcoins and Twitter too is considering following the same suite now, yet another company is now actually pondering whether or not it should follow in the same direction. Mastercard has now gone on to announce plans that it will begin the process whereby which it will allow cardholders to transact in certain cryptocurrencies. The company is in fact “actively engaging” with central banks all across the globe on the plans that they have with regards to the launch of new digital currencies.

Nonetheless, now that we are seeing big companies taking an interest in investing in Bitcoin, one might make the assumption that we could see the world viewing bitcoin as a safe currency option in the years to come.


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