Square invests $50M in Bitcoin to hold on its balance sheet

posted 3 months ago
Square announced today that it has purchased approximately 4,709 bitcoins at an aggregate purchase price of $50 million. Square believes that cryptocurrency is an instrument of economic empowerment and provides a way for the world to participate in a global monetary system, which aligns with the company’s purpose.

The investment represents approximately 1% of Square’s total assets as of the end of the second quarter of 2020.
Tags: bitcoin, blockchain, news