"Square's chief financial officer said during an investor call on Tuesday that it has seen a recent uptick in bitcoin engagement via its Cash App amid the market turmoil driven by the coronavirus crisis.
"Adoption and engagement of fractional equity investing in Bitcoin has accelerated in recent weeks given recent market interest and volatility," CFO Amrita Ahuja said on the call.
Square previously reported more than $178 million in bitcoin purchase volumes in the fourth quarter. For 2019 as a whole, the payments firm registered more than $516 million worth of bitcoin sales, translating to $8 million in gross profits – less than 2% of gross profit from subscription and transaction-based services.
The ability to purchase bitcoin is one of the features that have been rolled into Square's Cash App, all aimed at providing greater financial access – most recently the ability to purchase fractionalized shares of public companies."
https://www.theblockcrypto.com/post/59805/square-says-bitcoin-engagement-on-its-cash-app-has-grown-in-recent-weeks-amid-period-of-market-volatility
"Adoption and engagement of fractional equity investing in Bitcoin has accelerated in recent weeks given recent market interest and volatility," CFO Amrita Ahuja said on the call.
Square previously reported more than $178 million in bitcoin purchase volumes in the fourth quarter. For 2019 as a whole, the payments firm registered more than $516 million worth of bitcoin sales, translating to $8 million in gross profits – less than 2% of gross profit from subscription and transaction-based services.
The ability to purchase bitcoin is one of the features that have been rolled into Square's Cash App, all aimed at providing greater financial access – most recently the ability to purchase fractionalized shares of public companies."
https://www.theblockcrypto.com/post/59805/square-says-bitcoin-engagement-on-its-cash-app-has-grown-in-recent-weeks-amid-period-of-market-volatility