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IPFS News Link • Bitcoin

Jack Dorsey's Square buys $50 million worth of Bitcoin

• https://eng.ambcrypto.com, By Alisha Roy

According to Square, the premium cryptocurrency was an instrument of economic empowerment and paved a way for everybody to participate in a global monetary system. The firm claimed that this move would empower and enrich "everyone."

Square has invested one percent of Square's total assets into Bitcoin as of the end of the second quarter of 2020. Square's Chief Financial Officer, Amrita Ahuja who vouched for the fact that Bitcoin had the potential to become a global currency of the future said

We believe that bitcoin has the potential to be a more ubiquitous currency in the future. As it grows in adoption, we intend to learn and participate in a disciplined way. For a company that is building products based on a more inclusive future, this investment is a step on that journey.