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06 March 2021

Square Buys Another $170 Million in Bitcoin - Decrypt

Square Buys Another $170 Million in Bitcoin - Decrypt

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In its Q4 earnings announcement on Tuesday, the payments company said it has purchased approximately 3,318 bitcoins at an aggregate purchase price of $170 million.

"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.".

In its full earnings report, expected Tuesday afternoon, the company will also reveal its Q4 bitcoin revenue and profit from trading in its Cash App.

It has seenstrong numbers from bitcoin trading, reflect a growing taste among retail investors for Bitcoin and other cryptocurrencies, as the price of Bitcoin surged from $10,500 to $28,600 in the third quarter. .

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