Jack Dorsey's Square puts 1 percent of its total assets in Bitcoin in surprise $50M investment
US-based payments company Square, founded by Jack Dorsey, acquires 4,709 Bitcoin, with its officials saying Bitcoin has the potential to be a more"ubiquitous currency" in the future.
Jack Dorsey's Square has become the second publicly listed company after MicroStrategy to invest in Bitcoin. Jack Dorsey – chief of Twitter and US-based payments company Square – has purchased around 4,709 Bitcoin at an aggregate purchase price of $50 million. Announcing the news on Thursday, Square said it 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 investment represents approximately one percent of Square's total assets as of the end of the second quarter of 2020."And FAR more important than that is us investing directly in open source development with
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