• Home
  • Login
  • Register
Currency Insider
  • Home
  • Reading Library
  • CBDC Think Tank
SUBSCRIBE
No Result
View All Result
Currency Insider
  • Home
  • Reading Library
  • CBDC Think Tank
Currency Insider
No Result
View All Result

Square Has Already Raked in $34 Million Just One Month After Making a Huge Bitcoin Investment

by CBDC Insider
November 18, 2020
in Uncategorized
Reading Time: 1min read
0
Square Has Already Raked in $34 Million Just One Month After Making a Huge Bitcoin Investment
Share on FacebookShare on Twitter

Square’s $50 million investment in bitcoin last month is already paying dividends, as bitcoin surges to levels not seen since its 2017 ascent.

In October, Square said it purchased 4,709 bitcoins in a single day for an aggregate purchase price of approximately $50 million. The move was in a bid to expand its exposure to the popular crypto currency, building ontop of its platform that already allows its users to buy, sell and transfer bitcoin.

Square bought the 4,709 bitcoins for an average price of $10,618. Since the October purchase, bitcoin has surged nearly 70% to a high of $17,850 as of Tuesday afternoon, representing paper profits of $34 million for Square’s initial purchase.

RELATED STORIES

The Federal Reserve Should Drop FedNow And Any Plans To Launch A CBDC

The Federal Reserve Should Drop FedNow And Any Plans To Launch A CBDC

December 17, 2022
Bank of England seeks applications for £200K CBDC wallet prototype

Bank of England seeks applications for £200K CBDC wallet prototype

December 12, 2022

Read more: https://www.businessinsider.in/stock-market/news/square-has-already-raked-in-34-million-just-one-month-after-making-a-huge-bitcoin-investment/articleshow/79271740.cms

Previous Post

Banking System’s Failure Will Bring Rise In Bitcoin

Next Post

The Ternio Story, How This Small FinTech Is Revolutionizing Payments With Digital Currency

Next Post
The Ternio Story, How This Small FinTech Is Revolutionizing Payments With Digital Currency

The Ternio Story, How This Small FinTech Is Revolutionizing Payments With Digital Currency

© 2022 CBDC Insider

No Result
View All Result
  • Home
  • Map
  • Reading Library
  • CBDC Think Tank
  • Partners
    • DEA
  • Login
  • Register