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Square Adds $170 Million More in Bitcoin to Balance Sheet — Company Now Holds 5% of Total Cash Reserves in BTC

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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 … Read more

Square’s Cash App Bitcoin Revenue Surges 600% to $875 Million in Q2, Profit Up 711%

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Square Inc. has reported a significant bitcoin revenue increase in the second quarter. Its Cash App generated $875 million in revenue, a 600% increase from the previous year. In addition, Square’s bitcoin gross profit jumped 711%. Square Cash App’s Bitcoin Revenue Square released its performance report for Q2 2020 on Tuesday. The company’s net revenue, … Read more