Twitter Stock Jumps 20% Following Reports the Company Is Weighing the Possibility of Adding BTC – Markets and Prices Bitcoin News

Buoyed by reports that Twitter has been studying the possibility of adding bitcoin to its balance sheet, the company’s stock surged to a new 52-week high of $73.18 on Feb. 12. Before the surge, the stock had been trading at just under $60 on Feb. 9. At the time of writing, Twitter’s market capitalization stood at $57.20 billion.

Telsa’s BTC Move an Inspiration

Reports of Twitter’s possible bitcoin acquisition follow Tesla’s announcement that it had acquired BTC worth $1.5 billion. Tesla’s acquisition is fueling speculation that more large corporations may follow the electric carmaker in adding BTC to their reserves. Already, Mastercard has announced it will be supporting cryptocurrencies in its payments network.

How To Get Free Crypto  

Also, as the Twitter stock responded positively to comments by one company executive, CEO Jack Dorsey was announcing the creation of a bitcoin development trust. In a tweet, Dorsey, a supporter of bitcoin, says he and hip hop artist Jay Z are “giving 500 BTC to a new endowment named Trust to fund bitcoin development.” According to Dorsey, the work of this entity will “initially be focused on teams in Africa & India.”

Stock Spike Inevitable

In the meantime, one analyst suggests that the spike in the value of the Twitter stock is hardly surprising. Vladislav Utushkin, the CEO at TTM Bank, tells that it is only a matter of time before “other companies follow.” He explains that “investors are attracted by the company’s approach to new, highly profitable instruments and investments.”

According to Utushkin, bitcoin is one such investment hence the stock’s recent movements. The CEO explains:

All investors who bought bitcoin earlier now make a profit. The investment in bitcoin brought Microstrategy a return of almost 300%. Tesla’s return on investment in the first 24 hours (after buying BTC) exceeded 20%. Of course, after Tesla, decisions of other companies will be perceived positively, stocks react with growth to potential growth in capitalization.

Meanwhile, at the close of trading on Feb. 12, the stock had retreated to $71.90.

Do you think that Twitter will add BTC to its balance sheet this year? You can share your views in the comments section below.

Tags in this story

Image Credits: Shutterstock, Pixabay, Wiki Commons

Go to Source
Author: Terence Zimwara

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.