Square reports $178M in bitcoin purchases for Q4 2019 bringing its 2019 total to $517M
In an 8K Released today, Square reported $178M in bitcoin purchases for Q4 2019, up 240% on the year, bringing its 2019 total to $517M.
Bitcoin Purchases accounted for ~47% of Cash App revenue; however only accounted for ~2% of Cash App gross profits due to thin margins.
Square Cash bitcoin purchases represent an amount equal to 9% of the total bitcoin mining rewards for 2019.
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Mentioned Assets