Square announced yesterday that it has invested another $ 170 million in Bitcoin.
to the the report Cryptoglob, the company on Tuesday in its 2020 financial report and the final quarter of that year, described its investment in Bitcoin:
Square bought about 3,318 bitcoins worth approximately $ 170 million. According to Square’s previous $ 50 million investment, the total value of the bitcoins is about 5% of the company’s liquidity and tradable securities.
In another part of this report, it is stated:
Align with the purpose of the business [ما]Square believes that Bitcoin is a tool for economic empowerment. Bitcoin provides a way for individuals to participate in a global monetary system and secure their financial future. This Square investment is part of the company’s commitment to Bitcoin and its plans to continuously evaluate the cumulative investment in Bitcoin relative to other investments.
Jack Dorsey, Jim McKelvey and Tristan O’Tierney founded Square in 2013. Jack Dorsey also serves as CEO and Chairman of the Board.
Earlier, Square’s chief financial officer said in a statement that bitcoin had the potential to become the Internet’s main currency. He also said that bitcoin is becoming a bigger part of Square business.