Not only bitcoin! Twitter CEO who is scheduled to invest $10,000 a week in Bitcoin is incorporating more cryptocurrencies into its payment business Square

Jack Dorsey, CEO of social networking Twitter, is taking further steps to integrate Bitcoin and other cryptocurrencies into his payment business, Square. Square is a very popular American mobile payment company.

51C3519A16444959A439F3928A376E3F

Dorsey has previously praised Bitcoin. As bitcoin prices have doubled in 2019, Bitcoin has recently experienced a recovery, and most other major cryptocurrencies have also risen.

Now, Square has said it plans to “improve funding” through the development of its bitcoin and other cryptocurrencies, while Square's encryption division Square Crypto is also preparing to hire the first dedicated employee – many bitcoin and cryptocurrency investors want Square Can lead a wave of new bitcoin applications.

Square Crypo, the cryptocurrency business unit of Square, said on Twitter:

"We are going to make our first recruitment. So let's set some expectations. As @jack's founding tweet (the first tweet in history), we are building an open source project that will not only make large-scale adoption possible, but also It is inevitable."

Https---blogs-images.forbes.com-billybambrough-files-2019-05-Screenshot-2019-05-22-at-10.05.46-1.jpg

In March of this year, Dorsey said that Square will hire three to four bitcoin and cryptocurrency engineers, as well as a designer, full-time commitment to "open source contributions to the bitcoin and encryption ecosystem" and promise if they are willing Will also pay wages in bitcoin.

Dorsey had previously said that he believed Bitcoin "probably" became the first local currency on the Internet. Earlier this year, he revealed that he bought Bitcoin worth up to $10,000 a week and invested in a bitcoin and cryptocurrency hardware wallet to store his growing bitcoin holdings.

Earlier this month, Square announced strong growth in bitcoin sales through its Cash App in its first-quarter earnings.

Square announced that the first quarter of 2019 bitcoin business revenue was $65.5 million, while the bitcoin business cost revenue was slightly less than $64.7 million, and the bitcoin business profit was slightly less than $1 million.

Square users across the United States can purchase Bitcoin through their Cash App.

In the past few months, a number of positive news in the bitcoin and cryptocurrency industries have boosted bitcoin prices, including bullish surveys, technology developments, institutional support and traditional investor support.

After a catastrophic 2018, bitcoin prices have risen sharply this year, prompting many to announce that the so-called encryption winter is coming to an end.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Bakkt also can't impact traditional cryptocurrency futures trading? - Coin, OKex, Matcha, and the same station

Text | Mutual Chain Pulse · Liang Shan Hua Rong Mutual chain pulse: Although Bakkt has not been able to detonate...

Blockchain

Sun Yuchen used capital hegemony to control Steem, causing controversy, the integrity of stolen users' voting rights was questioned

Recently, in order to prevent capital power on the chain, Steem witness nodes jointly launched a soft fork. God V des...

Blockchain

FCoin nearly 13,000 BTC can not be paid, some people report it, some people save themselves

Following the destruction of 720 million tokens and three days and three announcements, FCoin has made new progress. ...

Blockchain

The Stock Exchange technology drives the AAX Exchange to be officially launched, and the four dimensions define the new industry standards.

Lead: As a next-generation digital currency trading platform, AAX leverages LSEG's Millennium ExchangeTM engine ...

Blockchain

Hong Kong's anti-acquisition new deal will take effect, and the "coin stock" of the fire currency will be renamed as a risk

Tongcheng Holdings Co., Ltd. (HK1611) issued an announcement proposing to change the company name to Firecoin Technol...

Blockchain

Swiss exchange SIX announces investment in cryptocurrency trading platform Omniex, exact amount not disclosed

According to a report by Finance Magnates on February 25, SIX Group, an operator of the Swiss Stock Exchange, announc...