Showing posts with label square cash. Show all posts
Showing posts with label square cash. Show all posts

Square, Which Shares CEO Jack Dorsey With Twitter, Just Spent $50 Million On Bitcoin....

Square said Today that they have purchased 4,709 bitcoins, worth $50 million. This is equal to 1% of Square’s total assets at the end of last quarter.

“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 their official announcement. 

Square’s Chief Financial Officer, Amrita Ahuja explained “We believe that bitcoin has the potential to be a more ubiquitous currency in the future. 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.”

Video Courtesy Of CNBC

Square Cash App rolls out Bitcoin buying/selling to all users in the US...

I was one of the lucky few people to first have the ability to purchase Bitcoin in my Square Cash app, when they randomly selected users in the San Francisco Bay Area to test it out. I made a video then showing it in use, and explained some of my theories for what Square may do with this long term.

Finally, as of this week any user in the United States can now use the Square Cash app to purchase BTC, and with no fees... for now. 

Announced in a tweet by the company:

UPDATE: Originally stated the ability to transfer BTC out of the app to another wallet wasn't available, but this feature has indeed been added!  It's just tucked away a bit.  You must click on the profile settings, then your Bitcoin balance. From there you will see options to 'enable withdraws' and it will ask for a photo of your ID for verification before they enable it.

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Author: Ross Davis
E-Mail: Ross@GlobalCryptoPress.com Twitter:@RossFM
San Francisco News Desk