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Twitter has not invested in BTC, but sees potential in it

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Twitter published its financial results for the third quarter of 2021. They show that it did not include BTC in its balance sheet, but confirmed that it plans to further integrate it into its ecosystem.

Twitter founder and CEO Jack Dorsey was asked what role BTC will play in his company’s overall global strategy. Jack replied:

“BTC tipping (a system for sending bitcoins through the Lightning Network on Twitter) allows transactions at a much higher speed. Both tools we have brought are new. These are products that we want to really verify. We launched them “in a nutshell” to make sure this was the right product that people wanted to stick to and make transactions through. Then we will make it available to more and more people, scale them and continue their integration. ”

Dorsey expects that in the future, BTC payments through the Lightning Network could be integrated with Twitter’s corporate initiatives, such as partnerships with advertisers on their platform. In a report for the third quarter of 2021, Twitter admitted that it is doing well in this area, as the number of monetizable users of this social network increased by 13% year-on-year to 211 million.

So while Twitter is still hesitant to invest directly in BTC, another Jack Dorsey Square company has had 8027 BTCs on its balance sheet for longer. Square is also working on a decentralized exchange for BTC, a hardware wallet and also a project that should make BTC mining accessible to “ordinary people” again.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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