Twitter; He Announced That He Can Make Payment Transactions With Bitcoin

Crypto money is a virtual currency that will be an alternative exchange tool to cash in terms of the way it works. Crypto money has a decentralized structure according to the general central banking system.

The first crypto currency was created by Satoshi Nakamoto in 2009. To this cryptocurrency Bitcoin named and has a decentralized structure. After this date, the recognition of crypto money accelerated and different crypto currencies emerged.

Recently, founder of Tesla Elon Musk With his positive speech about the crypto currency and the announcement that payments will be made with this currency, crypto currencies started to take place on the agenda again.

Twitter; He Announced That He Can Make Payment Transactions With Bitcoin

Now, Twitter’s Chief Financial Officer (CFO) Ned Segal said the company will continue to analyze and pay attention to potential uses of digital cryptocurrencies. Currently, the company underlined that employees are not likely to use Bitcoin to pay for their salaries and job services, but that they can switch to this currency to keep up with the era.

As it is known, Twitter’s CEO Jack Dorsey is a bitcoin enthusiast. He recently bought about $ 50 million worth of Bitcoin. Also, Tesla CEO Elon Musk recently spent $ 1.5 billion buying Bitcoin and said he could allow customers to pay with Bitcoin.

Twitter CFO also stated that one of the most important issues they are considering is how to buy Bitcoin on behalf of the company and convert it to US dollars during transactions. In addition, it is necessary to decide whether the Bitcoin statistical item will be included in the financial account.

Is Bitcoin Safe?

Tesla also warns that the value of digital assets can continue to be highly volatile, which can bring risks and uncertainties. In addition, it will take a long time for investors, consumers or companies to accept the payment for crypto money, which is seen as a rising trend.

The lack of physical form and the reliance on various enterprise and transaction verification technologies, or the decentralized structure, can be maliciously attacked or face technical obsolescence issues. This could cause financial damage to the company.

Tesla’s founder and CEO Elon Musk never hesitated to support cryptocurrencies publicly. He added the #bitcoin hashtag to his Twitter profile at the end of January. It caused Bitcoin to rise by 15.5%. Dogecoin, another cryptocurrency founded in 2013, was also supported by Elon Musk. The coin called Dogecoin, which was traded at around $ 0.003 in November last year, rose to $ 0.82 this week, which is a 2723% increase.

Source: Technology