American financial firm Square announced that it has purchased $ 50 million worth of Bitcoin. Similar to MicroStrategy, the company has allocated 1 percent of its balance to Bitcoin.
Square, the developer of the Cash App application, announced that it received $ 50 million of Bitcoin with today’s press release. The fact that Square, which offers innovative services for small and medium-sized businesses, has bought Bitcoin, is thought to be positive for the crypto money market.
Another important development for Bitcoin
In the announcement shared on Square Twitter, he emphasized that crypto currencies “add economic power” to people and that people can participate in the global financial system thanks to these money. Stating that these are things in line with the company’s overall vision, the Square team explained that they bought $ 50 million worth of Bitcoin.
Square, whose CEO is Jack Dorsey, who is also Twitter CEO at the same time, was generally welcomed to buy Bitcoin. Messari founder Ryan Selkis evaluated this development on Twitter and said that Square’s purchase of Bitcoin is more important than MicroStrategy’s purchase of Bitcoin. According to Selkis, this is because Square is both a higher caliber company and a more logical investment. to have done.