Square Adds $170 Million More in Bitcoin to Balance Sheet — Company Now Holds...
Square has bought more bitcoin, adding $170 million worth of the cryptocurrency to its balance sheet. The company now holds 5% of its cash reserves in bitcoin. Its Cash App was used by more than three million customers to purchase or sell the cryptocurrency last year. $170 Million Bitcoin Purchase Square Inc. (NYSE: SQ) announced Tuesday its fourth quarter and full year 2020 results. The company also announced that it has purchased $170 million worth of bitcoin “as part of its ongoing commitment to the cryptocurrency.” This is the company’s second bitcoin purchase; the....
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Following MicroStrategy, the Bitcoin-friendly fintech company Square shocked the space earlier this year when it revealed it would be deploying capital into BTC. The large Silicon Valley firm spent $50 million from its balance sheet, around 1% of its assets, on BTC. This marked the second time a U.S. based publicly listed company had put […]
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Twitter may be pursuing adding Bitcoin to its balance sheet, to follow Square, which is also run by Jack Dorsey. The firm’s chief financial officer Ned Segal indicated in an interview with CNBC that the firm is considering BTC as an asset that it can add to its balance sheet. This discussion comes after Tesla […]
On Tuesday, the Nasdaq-listed Canadian company Mogo revealed the firm has purchased 146 ether at an average price of $2,780. The move follows the firm’s corporate investment in bitcoin, as well as offering bitcoin rewards for the company’s mortgage and card clients. The company plans to keep 5% of its balance sheet assets in digital currencies. After Adding Bitcoin to the Balance Sheet, Mogo Stacks Ether The Vancouver-based Mogo (Nasdaq:MOGO), a fintech firm that provides various financial services has announced the corporate purchase of ethereum (ETH). The ethereum investment....
They went so far as to refer to cryptocurrency as "an instrument of economic empowerment." In a surprise move, Square announced the acquisition of 4,709 Bitcoin (BTC) worth roughly $50 million at time of publication. The company’s co-founder Jack Dorsey has been a long-term proponent of Bitcoin and crypto, while the company’s CashApp allows its users to invest in Bitcoin.This news comes months after another publicly traded company, MicroStrategy, decided to convert a portion of its treasury into Bitcoin. Currently, the company holds 38,250 BTC and its CEO Michael Saylor has become one of....