Express
Square Bought 3,318 BTC For $170 Million, Bitcoin Now Represents 5% Of Its Total Cash And Equivalents
Summary: Mobile payment company Square had purchased 3,318 BTC for $170 million, the company announced in the fourth quarter of the 2020 earnings meeting on Tuesday. Last year, it bought 4,709 BTC for $50 million. Adding the previous purchase, by December 31, 2020, Bitcoin accounts for approximately 5% of Square’s total cash, cash equivalents, and marketable ...
Mobile payment company Square had purchased 3,318 BTC for $170 million, the company announced in the fourth quarter of the 2020 earnings meeting on Tuesday.
Last year, it bought 4,709 BTC for $50 million. Adding the previous purchase, by December 31, 2020, Bitcoin accounts for approximately 5% of Square’s total cash, cash equivalents, and marketable securities.
The company said in the statement: "Cryptocurrency is an instrument of economic empowerment, providing a way for individuals to participate in a global monetary system and secure their own financial future. 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."
By Mary Liu
Tags: Bitcoin,Cryptocurrency,Square
Link: Square Bought 3,318 BTC For $170 Million, Bitcoin Now Represents 5% Of Its Total Cash And Equivalents [Copy]
