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Square's Bitcoin Sales Exceeded $166 Million Last Year

Liang CHE

Summary: According to coindesk.com, mobile payment company Square's bitcoin sales revenue last year exceeded $166 million. The company filed its fourth quarter of 2018 financial results with the Securities and Exchange Commission (SEC) on Wednesday, revealing that its net income last year was $3.3 billion, 5% of which came from cryptocurrency purchases in its cash applications. ...

According to coindesk.com, mobile payment company Square's bitcoin sales revenue last year exceeded $166 million. The company filed its fourth quarter of 2018 financial results with the Securities and Exchange Commission (SEC) on Wednesday, revealing that its net income last year was $3.3 billion, 5% of which came from cryptocurrency purchases in its cash applications. Its bitcoin sales were $166,517,000, but the cost of buying cryptocurrencies was about $165 million. This gives the company a net profit of $1.69 million in bitcoin sales.

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