The company disclosed in February that it used some of its available cash to invest $1.5 billion in bitcoin.
That’s probably fallen considerably, as the value of bitcoin is down about 10% this month — trading at $54,700 Wednesday.
The company made the bitcoin investment because it was looking for something to do with its excess cash that provided some level of return.
“Being able to access our cash very quickly is super important to us right now,” he said.