SQUARE adds $170 million worth of Bitcoin (BTC) to its balance sheet

SQUARE adds $170 million worth of Bitcoin (BTC) to its balance sheet
фото показано с : invezz.com

2021-2-25 13:55

Jack Dorsey’s Square has made another hefty investment in Bitcoin with $170 million worth of purchases. The company made it public by announcing on Tuesday, stating its intention to add to its expanding position. As a result of the new purchase, Square has now bought a total of 3,318 Bitcoin. This represents 5% of its cash and cash equivalents.

Square also revealed it bought Bitcoin at an average price of $51,235. When Square announced its purchase, Bitcoin was trading at roughly $48,000.

Square bought Bitcoin worth $50 million last year. When it purchased the Bitcoin last year, the cryptocurrency was valued at a little over $10,000.

 With the escalating upward movement of the cryptocurrency this year, the company would have made a massive profit from its investment.

The digital payment company, owned by Twitter chief executive officer Jack Dorsey, has shown immense confidence in the largest cryptocurrency in the world. Dorsey is an ardent Bitcoin enthusiast as he has been vocal about Bitcoin’s impressive value for some time.

 “The investment is part of Square’s ongoing commitment to Bitcoin,” Square said. The company also said the plan is to evaluate its aggregate investments in Bitcoin with its other investment regularly.

An instrument for economic empowerment

Bitcoin has been on a downward trajectory the past week, falling from a record high of $58,000 to $45,000.

Square also said that Bitcoin is an instrument of economic empowerment as it offers a way for people to participate in the global monetary system.

Dorsey has also been in the news for his positive comment about Bitcoin investment. He recently donated 1 Bitcoin to a nonprofit organization.

Many other companies have announced or indicated interest to add Bitcoin to their balance sheet. While some have already done that secretly, others like Microstrategy and Tesla have revealed their investments to the public.

While Square was announcing its investment in Bitcoin, it also unveiled its 2020 financial documents.

The post SQUARE adds $170 million worth of Bitcoin (BTC) to its balance sheet appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 97827.07 (-0.16%)
Объем 24H $104.329b
Изменеия 24h: 3.51 %, 7d: 11.01 %
Cегодня L: $97827.07 - H: $98126.63
Капитализация $1934.853b Rank 1
Цена в час новости $ 49859.53 (96.21%)

made square bitcoin worth million 170 announcing

made square → Результатов: 44


Фото:

Square Buys Another $170 Million in Bitcoin, Initial Investment Up 376%

Square has made this Bitcoin investment public along with its Q4 2020 and full year 2020 results release. This is not the first BTC purchase made by Square. Its first tryst with Bitcoin was announced in October last year when it made a purchase of 4,709 BTC worth about $50 million at the time of … Continued The post Square Buys Another $170 Million in Bitcoin, Initial Investment Up 376% appeared first on BeInCrypto.

2021-2-24 16:00


This On-Chain Data Suggests Unannounced Companies are Accumulating Bitcoin

The crypto community was ablaze with joy after news broke regarding Square’s decision to buy Bitcoin to hold as a reserve asset This decision came about just months after MicroStrategy made a similar choice, albeit on a larger scale If this trend gains steam as the dollar continues seeing unprecedented inflation, it could be a catalyst for massive BTC upside The significance of this should not be understated, but data seems to indicate that Square […]

2020-10-10 02:00


Bitcoin Only: Square CEO Jack Dorsey Doesn’t Care for Other Cryptocurrencies on Popular ‘Cash’ App

Square and Twitter CEO Jack Dorsey has made it very clear that Square will only support Bitcoin (BTC) in the foreseeable future. On February 6, in response to some members of the cryptocurrency community inquiring about potential Square integrations, Dorsey said: Nah — jack (@jack) February 5, 2019 He also expressed his enthusiasm towards the Lightning Network, a second-layer scalability solution that enables instantaneous payments on Bitcoin.

2019-2-7 18:13