Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
OR
Please fill out the required fields Please fill out the required fields Please fill out the required fields
Get Into Cryptocurrency Trading Today
Square, the payment company headed up by Bitcoin enthusiast and Twitter CEO Jack Dorsey, announced that its revenue from Bitcoin on its platform doubled through the second quarter of 2019 in comparison to Q1.
In the last three months, Square raked in $125 million by offering Bitcoin trading on its mobile payments app. This is a significant increase from the beginning of the year and could be down to a number of factors.
Bitcoin has been on the rebound after a disastrous 2018 and has attracted a lot more interest from investors. Moreso, Square is also increasing its usage and work with Bitcoin with a project manager at Square’s crypto branch — Square Crypto — heavily emphasized the company’s belief in Bitcoin on a Twitter AMA.
In their letter to shareholders, where Square made this announcement of doubled revenue, they also outlined the rally in the price of Bitcoin as one of the catalysing factors. Because of the increase in price, there was a boost in volume, and for a payments platform with a cryptocurrency arm, more volume means more revenue.
The mobile Cash App obtained $135 million in subscription-, services- and transaction-based revenue, according to the letter. Astonishingly, this means that Bitcoin revenue accounted for over 92 percent of the quantity that Square obtained through this revenue alone.
Q1, despite being half of this reported figure, was still a record breaking one for the app as it achieved a new revenue high from Bitcoin sales of $65.5 million.
It is understandable as to why Square is so bullish on Bitcoin after reading the revenue figured garnered by offering the cryptocurrency However, their praise has over the top recently.
In reaction to the revenue earned, Dorsey wrote:
“We love you, Bitcoin. we saw 3.5 million customers use Cash Card in June, typically using it to purchase multiple times per week. Our seller and Cash App ecosystems have incredible roadmaps ahead to deliver on our purpose of economic empowerment.”
The direction that Square seems to be heading also may be based heavily on Bitcoin. Steve Lee, the project manager at Square, essentially admitted so in his tweets, stating that Square was “very, very pro-Bitcoin.”
Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
ALL
TRENDING
WATCHLIST
Total Market Cap The Total Market Capitalization (Market Cap) is an indicator that measures the size of all the cryptocurrencies.It’s the total market value of all the cryptocurrencies' circulating supply: so it’s the total value of all the coins that have been mined.
{[{ marketcap }]} {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H) {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H)
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting all the data from several exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current price and the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting allthe data fromseveral exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current priceand the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Binance´s Launchpad Gears Up Tor Arkham Token Sale, Starts Recording BNB Balances
4 months ago | Benzinga
Arkham´s New Crypto Intel Trading Platform: A Game Changer For Traders?
4 months ago | NewsBTC
Bitcoin Could Rise to $120K by End-2024: Standard Chartered
4 months ago | Coindesk
Bitcoin Edges Lower; Bone ShibaSwap Becomes Top Loser
4 months ago | Benzinga
JustBit Casino Review
JustBit Casino, which specializes in virtual currencies, is easy to use because withdrawals are expl...
Huobi Token General Overview
Is Ripple The Cryptocurrency of 2021? - In Depth Review of Ripple XRP
Ethereum Classic Review
Monero General Overview
YouHolder
YouHodler is not just another player in the crypto space; it's a dynamic and innovative company ...
XBO
XBO.com cryptocurrency exchange redefines how you interact with crypto. Designed to make the benefit...
Bithumb
Understanding Bithumb This article highlights what is Bithumb and where it is located. It also di...
Bitstamp
Bitstamp's continued success in the crypto market This article highlights what Bitstamp is. I...
Bitfinex
Bitfinex general overview delves deep into its operations since its inception in 2012 up to date. It...
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
Payment Company Square Doubles Revenue From Bitcoin in Q2
Square, the payment company headed up by Bitcoin enthusiast and Twitter CEO Jack Dorsey,...
Perpetual Futures Contract, What Is That?
Futures contracts are agreements between two parties whereby they commit to buying or selling...
Could Cryptocurrency Be Used for Tax Evasion?
Digital currency has been gaining popularity in the media lately, and now, it seems that...
Bitcoin, Ethereum and Litecoin: Price Analysis
The major cryptocurrencies moving higher as momentum turns positive. Prices are bouncing for ...
Neo Review
What is Neo?Neo was created in 2014.This is an open source Blockchain that began its journey...
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
COMMENTS (0)