Square’s value could 5X thanks to Afterpay deal: Pomp
“Maybe you don't simply get a 20X the value of the business, but could you two, three, four or five X the business? Absolutely,” said Anthony Pompliano. Morgan Creek Digital co-founder and Bitcoin proponent Anthony Pompliano thinks Square’s value could increase to $1 trillion following the firm’s acquisition of Afterpay. Square, headed up by CEO Jack Dorsey, this week announced its acquisition of the Australian buy now pay later (BNPL) business for $29 billion on the same day it reported $2.7B in Q2 revenue from Bitcoin sales on its Cash App.Pomp analysed the move on his “Best Business”....
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Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link.Top Stories This Week Square to acquire Australian fintech Afterpay in $29B dealJack Dorseys digital payments firm Square entered into a $29 billion stock deal to purchase Australian buy now, pay later (BNPL) firm Afterpay this week.Just like the name Afterpay implies, Square will essentially be buying the firm now and paying later,....
Square will acquire Australian fintech firm Afterpay in a $29 billion stock deal, expecting to close the transaction in Q1 2022. Jack Dorsey’s cryptocurrency-friendly digital payments firm Square is expanding competition with global payment giants like PayPal by acquiring a major Australian lending company.Square announced Sunday that the firm has entered into a scheme implementation deed to acquire all of the issued shares in fintech company Afterpay in a $29 billion deal. The transaction is based on the closing price of the Square common share and is expected to be paid in all stock in....
In total, Block generated $4.42 billion worth of gross profit in 2021 marking a total YoY growth of 62%, however, net profit totaled just $77 million. Crypto-friendly digital payments tech firm Block, Inc. (formerly known as Square) posted $1.18 billion worth of gross profit in Q4, representing a growth of 47% over the same period in 2020. The firm led by Bitcoin maxi Jack Dorsey has multiple business arms including Cash App, Square, and the freshly acquired buy now pay later (BNPL) firm Afterpay after the $29 billion deal officially closed at the end of last month. Block’s 2021 Q4 report....
Jack Dorsey’s company Square has announced that it plans to acquire Australian technology company Afterpay. This was revealed in a press release that went out on August 1st. The press release showed that both companies had entered into what is known as a Scheme Implementation Deed. Square plans to acquire all of the issued shares […]
Afterpay told the Australian Senate that using crypto could cut payments costs for merchants, and that the government should work to create a framework for an AUD-backed stablecoin. Australian buy now pay later (BNPL) firm Afterpay believes that local merchants can slash payment costs by utilizing cryptocurrencies. In a submission to the Senate inquiry into “Australia as a Technology and Financial Center”, Afterpay stated that the use of blockchain-based transactions would cut the fees associated with traditional payment methods including card issuer, network operator and banking fees:....