Jack Dorsey's Square adds 4,709 Bitcoin to its balance sheet
In a surprise move, Square announced the acquisition of 4,709 (BTC) worth roughly $50 million at time of publication. The company’s co-founder Jack Dorsey has been a long-term proponent of Bitcoin and crypto, while the company’s CashApp allows its users to invest in Bitcoin.
This news comes months after another publicly traded company, MicroStrategy, decided to convert a portion of its treasury into Bitcoin. Currently, the company holds 38,250 BTC and its CEO Michael Saylor has become one of the most vocal Bitcoin advocates. Though MicroStrategy is a large company in its own right with a $1.5 billion market capitalization, it pales in comparison to Square, which holds an $81 billion capitalization.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.