Ahead of its fourth-quarter earnings call Tuesday the payments firm announced it had purchased an additional 3,318 BTC as a reserve asset.
And the reason for that is two-fold. One, there is more users actually using or trading Bitcoin on the Cash App. And two, the number of transactions per user is going up. So what weve said in the note is that even if Bitcoin goes up to you know a $100,000 or stays at $30,000 or $10,000, Square will still benefit from it.
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