Square is a company that started by enabling the little folk like us to accept credit cards. A small little reader, and then they moved into virtual cash registers on smartphones and tablets. You’ve probably used one at a restaurant while not knowing it. They have purchased $170 million in Bitcoin recently, just as Tesla. This is an interesting move, and we’ll see more similar approaches. Be aware, however, that this simply continues a volatile entry into a volatile world. I’m reporting, but I’m -not- “investing” in this. Perhaps I’m just not adventurous enough.
Square has bought more bitcoin, adding $170 million worth of the cryptocurrency to its balance sheet. The company now holds 5% of its cash reserves in bitcoin. Its Cash App was used by more than three million customers to purchase or sell the cryptocurrency last year.