Despite crypto winter, Square's cash App has seen steady increase in bitcoin purchased (Q4 purchases up ~70 percent since Q3, and 200 percent since Q1) by its 15m users.
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Square sold more than $166m worth of bitcoin in 2018
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Dorsey has indicated on prior calls the firm is moving quickly to ensure “quality” for its customers, stating, “Bitcoin for us is not stopping at buying and selling, we do believe this is a transformation technology for our industry and gives people more access to the financial system, so we are going to have a learning mindset and ensure we are learning and leading the industry from here.” “The internet deserves a native currency; it will have a native currency,” Dorsey said at an industry conference in New York in May. “I don’t know if it’ll be Bitcoin or not,” Dorsey said, adding “I hope it will be.”
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