Square announced it purchased another 3,318 BTC costing them $170 million. 

This is like Michael Jordan saying he's impressed with your basketball skills...
It's an important indicator when a company like square (arguably the world's leader on payment processing) see's a bright future for Bitcoin. 

This is the trend those bullish on Bitcoin hope other companies will follow: Bitcoin now represents 5% of Square's financial holdings.

It takes a small percentage of corporations doing this to start a frenzy over Bitcoin's limited supply - when you hear someone talking about 'Bitcoin going to $1 million!' this is the path that leads there. 

Video Courtesy of  CNBC