The enthusiastic CEO of Twitter, Jack Dorsey, is an outspoken and visible Bitcoin proponent. He has several times shared his optimistic stance and vision for the flagship cryptocurrency. A few days ago, Dorsey was applauded in the crypto community about his claims that he would leave his current positions if Bitcoin needs more attention. Once again, similar exciting news has surfaced to the excitement and surprise of the crypto-verse.
A crypto follower on Twitter tweeted at Dorsey, asking him about integration plans for Lightning Network and Twitter. To this, the CEO responded that it is only a matter of time. At this point, no other indications or details have been shared on this topic. However, the idea has become the center of attention and discussion on social media platforms. It should be noted that the Lighting Network is a secondary project built on top of the Bitcoin network.
The same news that mentioned Twitter integration with LN also made a flying reference to the BlueSky project. BlueSky is a decentralization project for the social media platform. The CEO of Twitter, Dorsey, has shared a wallet address linked with Spinx Chat on his account as well. Spinx Chat would serve as a messenger service with encryption coding for the BlueSky project.
Both these projects are hosted by the Lightning Network. Considering the close association of Twitter with LN, it is not a far-fetched assumption to assume that the new idea has good enough merit for becoming a reality. On the other hand, the same layer two ecosystems are also used for supporting smart payment solutions like Strike. Speaking at the Bitcoin 2021 conference claimed that Bitcoin is the most important digital asset for him, while other variants of crypto do not factor in at all.
Has Twitter Added Bitcoin to their Balance Sheet?
It is no secret that Twitter CEO is not issuing great endorsements for the flagship cryptocurrency. But he has also invested a significant amount of money in promoting different crypto savvy projects. In February, Dorsey invested about $1 million into a crypto think tank initiative called Coin Center. Another organization under the wing of Dorsey is Square that has publically declared that it holds about $420 million in crypto reserves.
Since then, the rumors about Twitter adding Bitcoin to its balance sheet have surfaced time and again. However, answering the same question in a CNBC interview, Ned Segal, CFO of Twitter, put all these rumors to bed. He claimed that the social media empire wants to proceed with caution and conduct some more research before taking the plunge.