As of recently, Twitter, the enormous social media platform, declared its plan of raising $1.25 billion. They plan on doing this by senior note offerings that are convertible. On the front line, it seems that this step was taken to take action against their recent security breaches. Nevertheless, beneath the apparent surface, it can be argued that the company is aiming for purchasing Bitcoins and other digital currencies as a coming move.
In their recent press release, the designated team of Twitter affirmed that this action would be undertaken by 2026. In the statement, twitter declared the notes as an obligation on Twitter due to their recent security breaches. With that said, the company aims to convert the notes into cash, shares, or both. Once the price offering is determined, the company will declare other related attributes like initial conversion rate, conversion rate etc. In addition to this, the amount will also be used for the general affairs and corporate regulations of the company, such as potential achievements.
Although the company has not discussed official plans to be associated with Bitcoin, the digital currency community has still erupted a debate. For example, Anthony Pompliano came forward quickly with his remarks. He stated that he could see a comparison between the current actions of Twitter and the actions of MicroStrategy.
MicroStrategy collected convertible senior notes contributions worth $1.6 billion. After which, they invested in digital currency. Keeping in mind the similarities, it can be argued that Twitter might be heading in a similar direction.
Furthermore, Jack Dorsey, the CEO of Twitter, is a huge supporter of digital currency. He has long been affiliated with Bitcoin and has various projects underway related to Bitcoins. Since Saylor, CEO of MicroStrategy, has similar affiliations with Bitcoin, it is not unlikely that the two CEOs follow a similar strategy.
Other companies like Square have undertaken investments in digital currency worth $170 million. In addition to this, Ned Segal, the allotted CFO of Twitter, has declared that the company will include digital currency in its balance sheet. These actions affirm Twitter’s comings association with Bitcoin and other related digital currencies.