Express

Square Sold $1.6 Million In Bitcoin During Third Quarter Of 2020

Emily Mason

Summary: Square sold $1.6 billion in Bitcoin during the third quarter of 2020, according to a newly released earnings statement from the third quarter of 2020. In quarter three, Square made $32 million in gross profit on its Bitcoin sales. The gross profit the company made from Bitcoin sales is up 90% from last quarter. The ...

Square sold $1.6 billion in Bitcoin during the third quarter of 2020, according to a newly released earnings statement from the third quarter of 2020.

In quarter three, Square made $32 million in gross profit on its Bitcoin sales. The gross profit the company made from Bitcoin sales is up 90% from last quarter. The report highlighted that Bitcoin revenue and gross profit benefited from an increase in Bitcoin actives and volume per customer.

The report comes after Square announced a $50 million investment in Bitcoin in October. The company has stated that it believes Bitcoin and cryptocurrencies are an instrument of economic empowerment.

By Emily Mason

Last Update:

Tags: ,,,
Link: Square Sold $1.6 Million In Bitcoin During Third Quarter Of 2020   [Copy]
Next:

Related Articles

  • Will Introduction of the Stablecoin Act Trigger a Financial Tsunami? 1 day ago
  • Trump Just Opened the Floodgates: What Happens When $9 Trillion in Retirement Money Hit... 4 days ago
  • US Crypto Stash Shock: Marshals' Low BTC Count Fuels 'Secret Sale' Debate, Ignites Buyb... 5 days ago
  • Mini Altcoin Season Brewing? Old Guard's Rally Signals Potential Shift 7 days ago
  • New All-Time High for BTC: Weekly Market Outlook & Strategy 8 days ago

    • You need to login to comment.