$500 Million Worth of Bitcoin Sold by Square App

Bitcoin Sold by Square App

Square registered over half a billion dollars worth of bitcoin sales (~$516 million), translating to $8 million in gross profits. Square’s 4Q earnings sold $178 million worth of bitcoin in the quarter, up ~20% from last quarter and 240% year over year. Square redesigning the Cash App to include shares trading had helped to drive the first-time bitcoin buyers.

Jack Dorsey who is the co-founder of Square and CEO of Twitter started speaking up and supporting Bitcoin of late even saying that Africa is the next giant hub for cryptocurrencies. It is also worthy of note that less transaction fees charged during bitcoin transactions are driving more people towards the digital assest.

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