Square said Thursday it bought 4,709 bitcoins, worth approximately $50m. This represents about 1% of Square’s total assets as of the end of the second quarter of 2020.
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Square buys $50m in bitcoin, says cryptocurrency ‘aligns with company’s purpose’
“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 company said in a release.
