Quick News : TimeCoin’s Special Token Sale
Social media giant Twitter on the 1st of March made an announcement of a $1.2 billion convertible bond offering, the announcement has sparked anticipation in the market, whether the funds or a part of it would be allocated to Bitcoin.
According to the press release, Twitter will be offering convertible senior notes of $1.25 billion principal amount, to be due in 2026. The offering will be a private placement for qualified institutional buyers.
The description of the notes is “unsecured, senior obligations of Twitter, “ whose interest will be paid semi-annually in arrears”.
The interest rate, initial conversion rate, and other terms of the notes are to be decided by the pricing of the offering.
However, the company mentions the usage of funds will be made for “general corporate purposes, including capital expenditure, working capital, and potential acquisitions”.
Is Investment in Bitcoin (BTC) on the Cards?
Although Twitter has not explicitly indicated allocating funds for Bitcoin, crypto enthusiasts speculated that the company would allocate some part of the funds for Bitcoin. Just like Microstrategy had done in the past.
One such tweet was of Investor Anthony Pompalino
Considering the fact that CEO of Twitter Jack Dorsey has been an eloquent proponent of Bitcoin, and had also mentioned earlier, the possibility of inclusion of BTC in their Balance sheet. His company ‘Square’ has already invested in Bitcoin. It is quite an evident and obvious speculation.
Ned Segal, CFO of Twitter in February had expressed his thoughts that they would consider BTC if an employee or a vendor wants to be paid in Bitcoin. The Bitcoin would be part of its treasury.
“We’ve done a lot of upfront thinking to consider how we might pay employees should they ask to be paid in bitcoin, how we might pay a vendor if they asked to be paid in bitcoin, and whether we need to have bitcoin on our balance sheet should that happen”.