June 14, 2021

Square Inc. invested another $ 170 million in Bitcoin

Square Inc. invested another $ 170 million in Bitcoin

The company today announced an additional $ 170 million purchase of bitcoins.

Jack Dorsey stated:

Why are we doing this? We believe the internet needs a native currency, and that currency is bitcoin.

He continued:

We see that our users are activeuse not only p2p transactions, but also other crypto products - Visa Cash Card, and Bitcoin Boost. We will redouble our efforts with Bitcoin and continue to develop new cryptocurrency services for CashApp.

Square was one of the first publicly traded companies to invest in bitcoin in October 2020. Late last year, the firm also invested $ 10 million in green mining BTC.

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According to the materials ambcrypto.com