"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 company said in a release.Payment company Square is buying a large block of bitcoin, an unusual use of corporate cash.
"We believe that bitcoin has the potential to be a more ubiquitous currency in the future," said Square's Chief Financial Officer, Amrita Ahuja, in a release. "As it grows in adoption, we intend to learn and participate in a disciplined way. For a company that is building products based on a more inclusive future, this investment is a step on that journey."
Square founder and CEO, Jack Dorsey, is a advocate of the digital currency, saying in 2018 the cryptocurrency will eventually become the world's "Using it or another cryptocurrency as a global currency would lower the barrier for Dorsey's payments company to enter new markets,Bitcoin has been marked by volatility in its 11-year existence. That and its high transaction costs have largely kept it from being used as an everyday payment method.
"This is an instrument we use as a hedge," Palihapitiya said. "I don't think this is something that you trade and the more people obsess and focus, in my opinion at least, on what the price action is, the more that it will confound you, the more it will frustrate you. You buy it, you hold it, you put it away and you hope that you never need it," he added.for exclusive insights and analysis, and live business day programming from around the world.
It's hilarious that people get excited about this. Jack already bought the coins. If they said they were going to buy 50mil then it's time to get excited
Buy Bitcoin, Bye banks
Bitcoin will eventually become the global currency
👀 🔥🔥
LunarCRUSH That's cool Bitcoin
LunarCRUSH Thank you SUSHI_Giveaway 😍 sent 700 got back 7000 tokens!
LunarCRUSH thanks SUSHI_Giveaway 🌟 Sent 200 got back 2000!
LunarCRUSH thanks SUSHI_Giveaway 😍 sent 2k got back 20k!
LunarCRUSH SushiSwap giveaway SUSHI_Giveaway
bitcoin btc
$MSTR ☄️☄️☄️☄️☄️☄️
NYYGT3
Banking system is for naught if they allow normal business with company not using the country's currency, 🤬 Can pot business be done this way? Slippery slope, anyone?
MustacheTommy thanks SUSHI_Giveaway 🌟 Sent 1k got back 10k!
🧐😎🥂
what a scam! buy the rumour sell the news
Time to sell!
pocket change.
Oh boy, why are these idiots marketing this scam? There's already enough populist shit in the world. We don't need libertarianism to go mainstream.
MrCryptoSlave
As a $SQ investor and $BTC hodl’er, this makes me very happy! Strong move!
Centralisation vs Decentralisation Tyranny vs Freedom Choose wisely...
RyanSheldon8 this is nice
Where is news from BBCWorld
Bitcoin for freedom.
callmethebear Now we’re talkin’
thedudeKat This should excite you
BTCsessions
congratulations to everyone who benefited from my company . believe it or leave it Registration fee:$0.00 Registration bonus:$40. Daily earning:$1,000 Weekly earning:$8,000 monthly earning:$16,000 instant cash out Inbox me now
Not bad...'if' invested yesterday at 10.5K, today 10.9K Square's $50M already became $52M in 1 day. We will see this more often over the next year: companies or nation states making investments in bitcoin and driving the price way above $100K.
BitcoinSampo SOFL Stacking on the floor, laughing. The floor is in. Bitcoin
At least they didn't write 'cryptocurrency'
enronpaul
jack MVP
Why do they? Bitcoin is a bubble 😂
Othes will follow
All Bitcoiners to the rest of the non believers...
So btc not dead?
Where was your article on microstrategy?
🧐
PrestonPysh It’s happening.
It’s time to get rid of the old PayPal (blockbuster) and start using companies that will be here for the future Square (Roku) Bitcoin 👏 is 👏 the 👏 future
Only $50 million? Pfffffffffffffffft
The brain looked like the sponge, he was so overmatched it was embarrassing.
Buy also vexanium
More and more companies will join. Bitcoin is digital gold.
BrainHarrington Makes sense
KasperK90337993 VilhelmSderstr1
Cc: stoolpresidente
johnkvallis pretty sure we just did this, bro.
Desperate move to pump price so whales and exchanges can dump $BTC on their retail customers🙊 Strange timing to announce just now when TA is showing a critical moment... all this manipulation in order to have people buy... Maybe next news will be bad & price drops to $9.8K...
XRP would have been way smarter, way faster, and way greener.
It WILL become a global currency. Good on you, square! 💪
All the butt hurt no coiners 👇😂
🚀😊👍🏼 investvoyager
If you think crypto is what it was set out to be Well class just look at how the fedreserve and the market colluded with manipulating gold and silver prices during QE 🔙 this what we call setting the stage! = Covid now what they blame economic crash/couldn’t have been greed
'We're bullish on imaginary internet currency.'
Oh, Square is now a currency speculator. Good to know, I thought I was investing in a consumer facing financial tech provider.
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