Square allocates one percent of its total assets to Bitcoin

2020-10-9 18:35

Square Inc. has announced today that it has purchased 4,709 BTC for approximately $50 million, allocating around 1 percent of its total assets as of Q2 2020 to Bitcoin. The payments company, founded by Twitter’s CEO Jack Dorsey, said that it intends to participate in growing Bitcoin’s adoption.

CashApp’s parent company Square invests $50 million in Bitcoin

Square, a payments company founded by Twitter CEO Jack Dorsey, has announced today that it has purchased approximately 4,709 bitcoins. In an announcement published on its official website, the company said that the bitcoins were acquired at an aggregate purchase price of $50 million.

Square’s chief financial officer Amrita Ahuja said that the investment was a result of the company’s belief that Bitcoin has the potential to become a more ubiquitous currency in the future.

“As it grows in adoption, we intend to learn and participate in a disciplined way. For a company that is building products based on a more inclusive future, this investment is a step on that journey,” she said in the company’s announcement.

Not the first time Square dabbles in Bitcoin

While buying $50 million worth of bitcoins is a huge step for a company involved in traditional finance, Square has acquired quite a reputation in the crypto industry due to its continuous investments in cryptocurrencies.

The company said that it has previously invested in Bitcoin “from a product, leadership, and legal innovation perspective,” but that today’s announcement will be adding a “financial investment” to the list.

But, despite the huge investment, Square hasn’t actually allocated that much of its resources to Bitcoin. According to the company’s blog post, the investment represents approximately 1 percent of Square’s total assets as of the end of the second quarter of 2020.

As of press time, the company hasn’t disclosed its plans for the investment. In 2018, the company enabled bitcoin trading in its CashApp, formed an independent crypto team a year later, and launched the Cryptocurrency Open Patent Alliance (COPA) earlier this year.

The post Square allocates one percent of its total assets to Bitcoin appeared first on CryptoSlate.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Decentralize Currency Assets (DCA) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 DCA

square bitcoin total assets percent allocates one

Источник: cryptoslate.com

square bitcoin → Результатов: 126


Фото:

Square Buys Another $170 Million in Bitcoin, Initial Investment Up 376%

Square has made this Bitcoin investment public along with its Q4 2020 and full year 2020 results release. This is not the first BTC purchase made by Square. Its first tryst with Bitcoin was announced in October last year when it made a purchase of 4,709 BTC worth about $50 million at the time of … Continued The post Square Buys Another $170 Million in Bitcoin, Initial Investment Up 376% appeared first on BeInCrypto.

2021-2-24 16:00


Фото:

Square’s Cash App Debuts Automatic Recurring Bitcoin Purchases

Automatic recurring Bitcoin (BTC) buying is now possible on Square’s Cash App via a new feature added to the platform. Tweeting on Monday, Square and Twitter CEO Jack Dorsey revealed that Cash App users can now set their Bitcoin buying frequency according to daily, weekly, or bi-weekly schedules with a $10 minimum across all three […] The post Square’s Cash App Debuts Automatic Recurring Bitcoin Purchases appeared first on BeInCrypto.

2020-5-19 05:15


Фото:

Square Open Sources Subzero, an Enterprise Offline Bitcoin Wallet

Square, a financial services and mobile payment company, has open sourced the documentation, code, and tools for Subzero, an enterprise offline Bitcoin Wallet. According to Square’s blog published on October 23, 2018, Square recognized the importance of not only developing a safe and secure storage option for Bitcoin but the need to share code and work in progress as it.

2018-11-2 14:00


Фото:

Square’s Debut of Payment Terminal Triggers Fresh Bitcoin Acceptance Rumors

Consumer and merchant payment network Square Inc. unveiled a point-of-sale (PoS) terminal October 19 in a move which sparked excitement about possible Bitcoin integration. Bitcoin PoS Next For Square? Unveiled on social media and in an interview with tech outlet Nerdist, Square’s device is designed as a standalone solution for merchants wishing to accept card payments.

2018-10-20 07:00


Фото:

Square Crypto Trading App Beats PayPal’s Venmo With 3x Growth

Square Cash, a cryptocurrency-enabled trading app, is growing three times faster than PayPal’s fiat-based Venmo, trading giant Nomura has revealed. ‘More Than Just A Bitcoin Play’ The company’s Square Cash app, which added cryptocurrency functionality in January, has defied Bitcoin price trends ever since, growing its user base despite overall Bitcoin market activity decreasing.

2018-7-13 20:00


Компания Square отказалась от заявки на регистрацию в качестве депозитарного банка

Достаточно дружественная к криптовалютам и биткойн компания Square отозвала заявку получение лицензии в качестве депозитарного банка. Сообщение Компания Square отказалась от заявки на регистрацию в качестве депозитарного банка появились сначала на Freedman.

2018-7-6 18:50


Hedge Fund Bullish on EOS and Ethereum, Bearish on Ripple and Litecoin

Austin-based cryptocurrency hedge fund Multicoin Capital is long Ethereum as well as EOS while short both Litecoin and Ripple’s XRP. Backed by Andreessen Horowitz’s Marc Andreessen and Union Square Venture’s Chris Dixon among others, the $75 million fund is defending its most significant position: EOS, a currency that raised $4 billion through an ICO last month […] Hedge Fund Bullish on EOS and Ethereum, Bearish on Ripple and Litecoin was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-7-3 01:24


Хедж-фонд Multicoin Capital делает упор на EOS и Ethereum

Крупный криртовалютный хедж-фонд Multicoin Capital, среди спонсоров которого Марк Андриссен, Крис Диксон, Union Square Ventures и другие венчурные капиталисты, делает упор на Ethereum и EOS, а перспективы Litecoin и XRP им кажутся сомнительными.

2018-7-1 10:51


Crypto Hedge Fund Multicoin Valued at $75m After Fred Wilson’s VC Investment

Despite the recent decline of the cryptocurrency market, the promise of huge profits continues to lure investors to funnel some of their funds into these digital coins. Recently, the New York-based venture capital firm Union Square Ventures (USV) officially announced its investment in Multicoin Capital, which is a cryptocurrency hedge fund startup.

2018-6-22 21:43


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum Memecoin $PEPE Surges As Whales Accumulate Profits

The Ethereum memecoin $PEPE has seen a remarkable surge, hitting an all-time high of $0.00001127 today with a market cap surpassing $4.5 billion.  This represents a significant gain of over 11% for the day and 32% over the past 7 days, making it the second largest crypto memecoin in the […]