Square not revisiting its Bitcoin allocation, but still interested in the asset
Square appears content with its Bitcoin holdings for now. Over the course of 2020 and 2021, Square bought over $200 million worth of Bitcoin. At present, the payments company does not anticipate picking up more of the asset, according to its chief financial officer, Amrita Ahuja. In an interview with Financial News, reported on Friday, Ahuja said: “We don’t have any plans at this point to make further purchases.” She added: “There’s no plans at this point to re-evaluate where we are from a treasury standpoint."Cointelegraph reached out to Square for additional comments, but did not receive....
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The recent push to the $1 trillion bitcoin market cap can at least be partially attributed to institutional investors; firms investing on the behalf of others or as part of their asset allocation strategies. Square, One of the Largest Corporate Holders of Bitcoin Alongside MicroStrategy, now Tesla, Square is one of the largest institutional purchasers of the asset. However, unlike these other two companies – Square purchases bitcoin to provide it to its users directly […]
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San Francisco-based mobile point-of-sale (mPOS) solution provider Square has announced that merchants will now be able to sell goods and services for bitcoin via its Square Market. Introduced in June 2013, the Square Market is an online website that features Square retailers in a centralized location not unlike eBay or Etsy. Square Merchants are not charged for listing items on the marketplace, but pay 2.75% for each sale for payments made with traditional payment options. Wrote the company on its official blog: "Making commerce easy means creating easy ways to exchange value for....