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Square's Cash App Saw $4.57 Billion Of Bitcoin Sold In 2020

Mary Liu

Summary: Cash App has become a popular application for retail investors to buy cryptos. In the fourth quarter of 2020, Cash App sold $1.76 billion of Bitcoin, and the entire annual sales reached $4.57 billion---an increase of approximately 9 times compared with 2019, according to a document filed by Square to the US Securities and Exchange Commission ...

Cash App has become a popular application for retail investors to buy cryptos.

In the fourth quarter of 2020, Cash App sold $1.76 billion of Bitcoin, and the entire annual sales reached $4.57 billion---an increase of approximately 9 times compared with 2019, according to a document filed by Square to the US Securities and Exchange Commission on Tuesday.

The gross profit from the sale of Bitcoin during 2020 was $97 million, accounting for about 2% of Bitcoin revenue, of which the fourth quarter saw a gross profit of $41 million.

By Mary Liu

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