Square has bought another $ 170 million worth of bitcoins

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Square has bought another $ 170 million worth of bitcoins

Square has bought bitcoin : Square announced yesterday that it has invested another $ 170 million in Bitcoin.

According to Cryptoglob, the company described its bitcoin investment in its 2020 financial report and the final quarter of that year on Tuesday:

Square bought about 3,318 bitcoins worth approximately $ 170 million. According to Square’s previous $ 50 million investment, the total value of the bitcoins is about 5% of the company’s liquidity and tradable securities.

In another part of this report, it is stated:

In line with [our] business goals, Square believes that bitcoin is a tool for economic empowerment. Bitcoin provides a way for individuals to participate in a global monetary system and secure their financial future. This Square investment is part of the company’s commitment to Bitcoin and its plans to continuously evaluate cumulative Bitcoin investments over other investments.

Jack Dorsey, Jim McKelvey and Tristan O’Tierney founded Square in 2013. Jack Dorsey also serves as CEO and Chairman of the Board.

Earlier, Square’s chief financial officer said in a statement that bitcoin had the potential to become the Internet’s main currency. He also said that bitcoin is becoming a bigger part of Square business.

Square has bought another $ 170 million worth of bitcoins

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