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Square, Inc. Joins "Global Monetary System" With $50 Million Bitcoin Investment
Summary: Square, Inc., a San Francisco-based payment company run by Twitter CEO Jack Dorsey, has just invested $50 million in bitcoin, purchasing approximately 4,709 coins, according to a press release today. The investment reflects Square's desire to be part of a "global monetary system" by investing in what it believes to be an "instrument of economic empowerment." The ...
Square, Inc., a San Francisco-based payment company run by Twitter CEO Jack Dorsey, has just invested $50 million in bitcoin, purchasing approximately 4,709 coins, according to a press release today. The investment reflects Square's desire to be part of a "global monetary system" by investing in what it believes to be an "instrument of economic empowerment."
The purchase comes after Square's multiple previous investments in bitcoin, including the launch of its bitcoin-compatible Cash App in 2018, the formation of its Square Crypto team in 2019, and the recent initiation of its Cryptocurrency Open Patient Alliance non-profit. Notably, though, the $50 million investment is the company's first purchase of the currency itself.
By Isaac Goluboff
Tags: Bitcoin,Square,Twitter
Link: Square, Inc. Joins "Global Monetary System" With $50 Million Bitcoin Investment [Copy]
