Square Bought 3,318 BTC, Made $3.51 Billion In Bitcoin Revenue In Q1 2021
Per an earnings report, Bitcoin-focused payments company Square has purchased 3,318 more BTC and earned $3.51 billion in bitcoin revenue.Today, Square (NASDAQ: SQ) reported its 2021 first quarter earnings. The company remained committed to holding bitcoin as an “instrument of global economic empowerment,” seeing tremendous gains from its $220 million in bitcoin purchases. “In February 2021, we invested $170 million in bitcoin as we believe cryptocurrencies are an instrument of economic empowerment, which aligns with the company’s purpose” per the earnings report.With this $170 million....
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The American-based payment company Square Inc. reported a drop in Bitcoin revenue month over month from its Cash App during the third quarter of 2021, the total amount being $1.82, overall, 11% up from last year. Square has found profit in midst of the pandemic as many users grew to need e-commerce services. The number of processed transactions on the app during the third quarter went up 27% with a total amount of $3.7 billion. The company is led by Jack Dorsey, who also runs Twitter and is a big BTC enthusiast, currently aiming to invest in the future of decentralization and new economic....
Cash App, a mobile payment service of Square Inc., generated more than $1.63 billion in bitcoin revenue in Q3 2020, which is an increase of more than 1,000% over the same period last year. The company recently invested 1% of its total assets, or $50 million, into bitcoin. Cash App’s Bitcoin Revenue Soars Square Inc. released its Q3 2020 earnings report on Thursday. The NYSE-listed (NYSE: SQ) company with a market capitalization of $86 billion provides software and hardware payments products and small business services. Its CEO Jack Dorsey also co-founded Twitter. Square’s....
Square Inc. has reported bitcoin revenue of $1.82 billion in the third quarter, an 11% increase from the same period last year. Its bitcoin gross profit was $42 million during the time period, a 29% increase year-over-year. Square’s Bitcoin Profit up 29% in Q3 In the company’s Q3 2021 Shareholder Letter, published Thursday, Square Inc. reported total net revenue of $3.84 billion in the third quarter, up 27% year-over-year. The company’s bitcoin revenue is generated from its mobile payment service, Cash App. The platform generated $2.39 billion in revenue and $512....
Last week, Square made mainstream headlines when it was revealed that the firm had bought Bitcoin — $50 million worth of the cryptocurrency. Square is a financial technology giant valued at around $80 billion, though the $50 million was only approximately 1% of its assets. Square wasn’t the first company to do so. The month […]
Payments giant Square has revealed its customers bought $2.72 billion worth of bitcoin in the second quarter of 2021.