Square, Inc. Invests $50 Million in Bitcoin
08 Ottobre 2020 - 3:00PM
Business Wire
The investment underscores Square’s purpose of
economic empowerment
Square, Inc. (NYSE: SQ) announced today that it has purchased
approximately 4,709 bitcoins at an aggregate purchase price of $50
million. 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.
“We believe that bitcoin has the potential to be a more
ubiquitous currency in the future,” said Square’s Chief Financial
Officer, Amrita Ahuja. “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.”
Square has previously invested in bitcoin from a product,
leadership, and legal innovation perspective, and today adds this
financial investment. The company launched bitcoin trading in 2018
with Cash App, which enables the buying and selling of bitcoin. In
2019, the company formed Square Crypto, an independent team solely
focused on contributing to bitcoin open-source work for the benefit
of all, and also recently launched the Cryptocurrency Open Patent
Alliance (COPA), a non-profit organization encouraging crypto
innovation and opening access to patented crypto inventions.
Square has open sourced documentation to articulate the process
behind the execution of its purchase as others consider similar
strategies. The whitepaper can be found at
squareup.com/investors.
About Square, Inc.
Square, Inc. (NYSE: SQ) builds tools to empower businesses and
individuals to participate in the economy. Sellers use Square to
reach buyers online and in-person, manage their business, and
access financing. And individuals use Cash App to spend, send,
store, and invest money. Square has offices in the United States,
Canada, Japan, Australia, Ireland, Spain, and the UK.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201008005334/en/
press@squareup.com
Grafico Azioni Block (NYSE:SQ)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Block (NYSE:SQ)
Storico
Da Lug 2023 a Lug 2024