Square's first quarter bitcoin revenue was $65.5 million, an increase of 80% year-on-year

According to Coindesk, on May 1st, the payment company Square, founded by Twitter co-founder Jack Dorsey, announced its first-quarter earnings. Bitcoin sales of its Cash App showed strong growth, with bitcoin revenues of $65.5 million in the first quarter of 2019. In the unaudited quarterly report, Bitcoin costs $64.7 million and profits are approximately $832,000. These figures exceed Square's previous record high. Bitcoin profits in the first quarter of 2019 increased by 80% from the previous quarter.