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BTCC / Hashtag / buy bitcoin with square
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BTC -1.80% 63,020.13 BITCOIN -3.32% 0.008630 CRYPTO -2.67% 0.001232

How much did square buy bitcoin?

Square bought $170 million worth of bitcoin, the company revealed in its fiscal fourth-quarter financial report Tuesday. The company said it purchased approximately 3,318 bitcoins, expanding on its October 2020 buy of 4,709. Square said it represents about 5% of the company’s total assets as of the end of 2020.

How much of Square’s portfolio is in Bitcoin?

The investment represents approximately one percent of Square’s total assets as of the end of the second quarter of 2020. “We believe that bitcoin has the potential to be a more ubiquitous currency in the future,” said Square’s Chief Financial Officer, Amrita Ahuja.

Why is square investing in cryptocurrency?

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 one percent of Square’s total assets as of the end of the second quarter of 2020.

How is my Bitcoin balance stored?

Your Bitcoin balance is stored using Square’s secure online/offline wallet system. Square holds your Bitcoin as a custodian at your risk. Square may not always support Bitcoin withdrawals to an external wallet in an immediate fashion. This is a security feature.

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