Showing posts with label square. Show all posts
Showing posts with label square. Show all posts

Square, Which Shares CEO Jack Dorsey With Twitter, Just Spent $50 Million On Bitcoin....

Square said Today that they have purchased 4,709 bitcoins, worth $50 million. This is equal to 1% of Square’s total assets at the end of last quarter.

“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 company’s purpose” the company said in their official announcement. 

Square’s Chief Financial Officer, Amrita Ahuja explained “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.”

Video Courtesy Of CNBC

Confirmed: Twitter/Square Founder To Launch Crypto-Focused Company "Square Crypto"...

Since people spotted the Twitter account of 'Square Crypto' (@sqcrypto) there has only been questions and speculation. We were unsure if this even was the same Square, the payment processing company that shares the same CEO/founder with Twitter, Jack Dorsey.

Well it just became official - as the first tweet with some real information was sent announcing their first executive hire, Steve Lee.  Steve is a former Google director, where he worked on projects such as Glass and Maps.

On his personal LinkedIn, he lists that he's been a volunteer Bitcoin project manager over the last year, and here we get a glimpse into his vision for the future of crypto...

- Being a Bitcoin Core contributor by reviewing and testing changes, adding testing and documentation, and coding/refactoring

- Helping the Core project with project management and communication

- Helping businesses building on Bitcoin get access to resources to improve their business and the Bitcoin ecosystem through education, training, support, etc.

- Helping aggregate ecosystem feedback for Core devs

- Publishing content to the Bitcoin community to aid in understanding Bitcoin's progress and future direction

What we still don't know - what will Square Crypto do exactly?

The Square app is focused on sending P2P debit card payments, but currently allows buying and selling of Bitcoin, and Bitcoin only.   So perhaps an app centered around crypto, and offering more coins is coming soon.

But the big question is - will Square implement crypto payments into their POS systems?  This would be a move where overnight, crypto would suddenly be accepted at hundreds of thousands of retail stores across the US.

Many merchants simply don't understand crypto yet, and are too intimidated to accept it. But Square has everything needed to offer instant conversation to USD, which would leave retailers with no valid reason to not accept crypto payments.

What do you think we can expect from Square Crypto? Tweet us @GlobalCryptoDev

Author: Oliver Redding
Seattle News Desk

Twitter/Square CEO believes in Bitcoin, and has the power to usher in mass adoption - here's how...

Speaking to The Times in the UK, CEO of Twitter and Square Jack Dorsey said “The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin.” Dorsey continued “probably over ten years, but it could go faster".

His Bitcoin-believer mindset has shown in his products lately too - with the Square Cash app rollout to buy Bitcoin many people are wondering, what's next?

Square provides point-of-purchase services to literally millions of retail outlets nation-wide.  Given Dorsey's beliefs on Bitcoin, it's not too far fetched to think at one point these merchant services will see the ability to accept Bitcoin in their stores through Square.

That would be a move where overnight, Bitcoin would be an accepted form of payment at millions of stores. I discussed this possibility in depth a couple months ago in a YouTube video (link) after I was lucky enough to be one of the early Square Cash app users with the ability to purchase Bitcoin.

Point is - not only can Jack Dorsey make this happen, it sounds likely he actually will.
Author: Ross Davis
San Francisco News Desk

Square makes a bet on Bitcoin...

VIA CNBC: Josh Elman, partner at Greylock Partners, and Ed Lee, Recode managing editor, discuss the news that Square is testing support for users to purchase bitcoin on its app as well as what they see for innovations in blockchain and cryptocurrencies.

Coinbase may have a rival, and it's an app millions ALREADY have...

Whatever you think of Coinbase, there's no debate they've dominated the "ease of use" category this year, making them the most likely starting point used by new investors.

Now, another app, Square Cash which is already on millions of mobile devices for peer-to-peer transactions, is testing Bitcoin transactions - and not just trading them between users - buying them with debit/credit cards.

The featured seems to have suddenly appeared yesterday to a small group of randomly selected users as a test run.

Today, Square made their first public acknowledgement in a one word tweet:

Square is a huge player in the digital transaction space, valued at $15 Billion, with over 1000 employees. 

Author: Ross Davis
San Francisco News Desk

BREAKING: Is Square about to start supporting Bitcoin payments?

Billionare investor, former Goldman Sachs partner, and head of Galaxy Investment Partners Michael Novogratz tweeted out tonight: 
The San Francisco based company says it has 2 million people and businesses accepting credit cards with the service.

At this point, it's just a rumor.

Author: Justin Derbek
New York News Desk