Is square investing in Bitcoin?

“The investment is part of Square’s ongoing commitment to bitcoin, and the company plans to assess its aggregate investment in bitcoin relative to its other investments on an ongoing basis.”

What is square crypto?

Square added bitcoin trading to its Cash app in 2018, and last year, it formed Square Crypto, an independent team that contributes to bitcoin open-source work.

What is bitcoin's price?

Bitcoin’s price is around $10,775 at present. In May, Square reported its bitcoin revenue for the first quarter was $306 million, on total revenue of $1.38 billion.

Will bitcoin become a more ubiquitous currency in the future?

The investment represents approximately one percent of Square’s total assets as of the end of the second quarter of 2020. “We believe that bitcoin has the potential to be a more ubiquitous currency in the future,” said Square’s Chief Financial Officer, Amrita Ahuja. “As it grows in adoption, we intend to learn and participate in a disciplined way.