Square and Bitcoin Go Hand in Hand by g-dubs

bitcoin · @g-dubs · Feb 28 '19

$11.23

Square and Bitcoin Go Hand in Hand

Back in April 2018 Square [announced](https://bitcoinmagazine.com/articles/squares-cash-app-now-supports-bitcoin-trading-all-50-states/) that its Cash App supported bitcoin (BTC) trading in all 50 states.

In its latest financial report the company [reported]( https://www.coindesk.com/square-sold-over-166-million-in-bitcoin-last-year) that it generated $166 million in revenue from bitcoin sales during 2018.

That’s about 5% over revenue. And overall Square generated $1.69 million in profits from those bitcoin sales.

<center> https://i.postimg.cc/wBRspyD6/SQ012.png </center> 

Bitcoin sales were strong throughout the year. And accelerated by 34% in the second half of year.

What’s also interesting is that Square’s cash app is banking the unbanked in the U.S. It’s especially popular in southern states, where being unbanked is an issue.

Per Ark Invest: When comparing the FDIC’s unbanked rates and Google Search Trends for Square’s Cash App, the geographic overlap is striking, as shown below. The Cash App dominates in the southern states where the rates of the unbanked are highest.

<center> https://i.postimg.cc/xCRjDnpf/SQ013.png </center> 

The CEO of Square is Jack Dorsey. He’s also the CEO of Twitter.

And a big [bitcoin proponent]( https://www.ccn.com/twitter-ceo-jack-dorsey-engages-in-bitcoin-lightning-network-torch-experiment).

Hodl that BTC!



_____________________________________________________
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👍 therising, appreciator, rocky1, booster, buildawhale, boomerang, ramblin-bob, redes, ripperone, g-dubs, eforucom, coinmarketcal, stackin, pandorasbox, seanlloyd, igl00, dkid14, arv1, znnuksfe, buggedout, optimizer, mys, imperfect-one, ezravandi, xrp.trail, delegate4upvot, nailyourhome, fun2learn, garrettwallace, dieadecorud, leitrafboahu, haileyz, rachelcku, jessicaolmuf, mariac2601, glownortolor, persventacons, nkilehisli, allisonq, oliviahnl, peleafabmold, nieloagranca, bukiland, bluesniper, vyaduka, hdu, druglord247, stocktober, abukhamu

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properties (23)vote details (49)

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igl00	6,531,838,163	100%
ramblin-bob	1,136,060,695,117	100%
eforucom	30,615,263,779	3.5%
redes	983,568,158,930	19%
bukiland	457,200,192	1.1%
ripperone	853,844,211,234	17%
imperfect-one	2,224,053,733	2.09%
stackin	26,260,822,043	5%
mys	2,338,489,383	2.09%
booster	1,990,137,947,975	4.87%
appreciator	3,391,634,414,770	4.5%
pandorasbox	11,152,006,576	100%
buggedout	2,436,137,491	100%
rocky1	2,599,423,683,044	4.38%
buildawhale	1,710,062,477,573	3.08%
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allisonq	509,830,102	100%
oliviahnl	498,669,387	100%
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xrp.trail	858,116,697	1.3%
druglord247	72,818,108	4%