Square financial services company announced that it has acquired more Bitcoins, as the company said in a public statement on Tuesday: Square bought approximately 3,318 BTC at a total purchase price of $ 170 million.
she added in the statement: Combined with Square's previous $ 50 million purchase of Bitcoin, this represents roughly 5% of the total cash and cash equivalents and tradable securities. At Square as of December 31, 2020
Bitcoin (BTC) has fallen dramatically this week so far, with the price dropping below the $ 50,000 mark after setting a record high after $ 58,000, based on Trading View data.
based on the $ 170 million swapped for around 3,318 Bitcoins, it appears that the group has paid, on average, $ 5,1235 per coin in its new investment.
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In the statement, Square indicated that, in line with the company's goal, Square believes that digital currencies are a tool for economic empowerment, providing a means for individuals to participate in a global monetary system and secure their financial future. Your
and continued: The investment is part of Square's ongoing commitment to Bitcoin, and the company plans to continuously evaluate its total investment in Bitcoin compared to its other investments.
Square bought $ 50 million worth of Bitcoin in 2020, which it announced last fall.
Jack Dorsey, CEO of Twitter, is also the CEO of Square. Dorsey recently donated Bitcoin to a non-profit that aims to advance the technology of Bitcoin.
