Cash App Bitcoin Revenue, Profits Increase 600% Year-Over-Year On “Rising Demand”

Square Inc’s Cash App is just one of many ways CEO Jack Dorsey is exposing the public to Bitcoin. The payments firm added support for cryptocurrency purchasing in 2018 during a bear market, but demand has continued to climb. The company’s latest quarterly revenue reports have revealed some staggering figures. It also clearly shows the impact the crypto asset is having on their bottom line. Cash App Quarterly Revenue Figures Show Strength During Economic Turmoil Just ahead of Bitcoin’s peak at $20,000 in 2017, Square Inc’s Cash App began rolling out testing of Bitcoin buying in small phases. This eventually proved successful, even as the asset fell into a downtrend, and expanded globally. Cash App has since grown to also allow exposure to stocks, putting it head to head with the likes of Robinhood and other easy-access trading apps. But it also continued to offer Bitcoin and scale that business…

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