9.9 C
Amsterdam
29 March 2024
PumpMoonshot
Image default
News

Jack Dorsey’s Square Buys $50 Million Worth of Bitcoin (BTC)


The financial services company aimed at smaller businesses, Square, has just announced that it’s bought $50 million worth of Bitcoin. It becomes the second publicly-traded company to do so after MicroStrategy.

  • Financial services company Square has announced that it has purchased $50 million in Bitcoin.

 

  • The company headed by Twitter’s Jack Dorsey, says that it believes that cryptocurrencies are an instrument of “economic empowerment and provides a way to participate in a global monetary system, which aligns with the company’s purpose.
  • The company has been rather open when it comes to its overall stance on cryptocurrencies. Earlier in September, it even created a non-profit organization to fight cryptocurrency patent trolls.
  • In addition, earlier in the year, Square offered the users of its Cash App to purchase Bitcoin on a recurring basis.

 

  • Jack Dorsey has also been vocal on the merits of Bitcoin on more than one occasion. Most recently, he said that BTC and blockchain are the future of the social media giant Twitter.

 

  • Square’s purchase of $50 million is a continuation of the institutional interest showcased in the field. In September, another NASDAQ-listed company, MicroStrategy, bought a second round of BTC, bringing up the total value of its stack to $425 million.

News source



Related posts

At it again on Twitter? Elon Musk says he wouldn’t turn down getting paid in BTC

PumpMoonshot

Bitcoin Price to Find its Bottoms at $6000 Says Peter Schiff, This is When BTC May Hit These Levels

PumpMoonshot

ON-CHAIN DATA: BITCOIN WILL SEE EVEN MORE VOLATILITY AFTER $1,500 PLUNGE

PumpMoonshot
Verified by MonsterInsights