Square, the payments company run by Twitter CEO Jack Dorsey, announced on Thursday that it has bought 4,709 BTC. Which means that Square invests USD 50 million in Bitcoin that represents 1% of the total assets of the company.
“Square believes that cryptocurrency is an instrument of economic empowerment and provides a way for the world to participate in a global monetary system, which aligns with the purpose of the company”the company said in a statement.
“We believe that BTC has the potential to be a more ubiquitous currency in the future,” Square Chief Financial Officer Amrita Ahuja said. “For a company that is building products based on a more inclusive future, this investment is a step on that journey.”
The listed company’s Cash app has offered BTC sales for several years, becoming a major revenue driver.
The statement details that Square has previously invested in BTC from a product, leadership and legal innovation perspective, and today adds this financial investment. So it’s no wonder Square invests $ 50 million in Bitcoin.
The company launched Bitcoin trading in 2018 with the Cash app, which enables the buying and selling of bitcoins.
In 2019, the company formed Square Crypto, an independent team focused solely on contributing to the open source work of BTC for the benefit of all.
Also, it recently launched Cryptocurrency Open Patent Alliance (COPA), a non-profit organization that fosters innovation and cryptography by opening access to proprietary crypto inventions.
Murda Beatz becomes a new Bitcoiner after buying a bit of BTC
Murda Beatz, known for his popular music collaborations with Drake, Nicki Minaj, Travis Scott, and others, has bought a bit of BTC.
Announcing the news to his 283,200 followers on Twitter. Beatz “saluted” artist Jermane Prime and Morgan Creek Digital co-founder Anthony Pompliano for being instrumental in making the purchase.
Anthony Pompliano, congratulated him on becoming a new Bitcoiner. And, he asked his followers to welcome him, which they gladly did.
Murda Beatz (Shane Lee Lindstrom) is a Canadian record producer. He has worked on eight Grammy nominated albums with the likes of: Cardi B, Travis Scott, Nipsey Hussle. He produced the Drake smash hit “Nice for What,” which was No. 1 on the Billboard Hot 100 for 8 weeks.
Failed Bitcoin ATM robbery puts Canadian businesses out of service
A Canadian store was badly damaged during an attempted robbery of a BTC ATM and can no longer serve customers.
As the Vernon Morning Star reported, the front of the L&D Meats and Deli store in Kelowna, British Columbia, was destroyed. Two suspects backed up their white GMC Sierra pickup while fleeing the scene.
Police said the couple, who are currently on the run, had been trying to rob a BTC ATM. Early Wednesday morning from the business next door to the deli.
A store clerk, Mike’s Produce, said the suspects had been unable to remove the ATM, which was located on the interior rear wall. Despite thousands of dollars in damages, nothing has been stolen, Officer Solana Pare, a spokesman for the Royal Canadian Mounted Police in Kelowna, said in the report.