Through a statement, it was learned that the company led by Twitter’s CEO, Square, is investing USD 50 million in Bitcoin.
Square, the payments company led by Twitter CEO Jack Dorsey, announced Thursday that it has purchased 4709 BTC. This means that Square is investing $50 million in Bitcoin, which represents 1% of the company’s total assets.
„Square believes that crypto currency 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 a statement.
„We believe that BTC has the potential to be a more ubiquitous currency in the future,“ said Square’s CFO, Amrita Ahuja. „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 application has offered BTC sales for several years, becoming a major revenue driver.
The release details that, Square has previously invested in Bitcoin Rush from a product, leadership and legal innovation perspective, and today adds this financial investment. So it’s not surprising that Square is investing $50 million in Bitcoin.
The company launched Bitcoin trading in 2018 with the Cash application, which allows the purchase and sale of bitcoins.
In 2019, the company formed Square Crypto, an independent team focused solely on contributing to BTC’s open source work for the benefit of all.
It also recently launched the Cryptocurrency Open Patent Alliance (COPA), a non-profit organisation that fosters innovation and cryptography by opening up access to proprietary crypto-inventions.
Murda Beatz becomes a new Bitcoiner after buying some BTC
Murda Beatz, known for his popular music collaborations with Drake, Nicki Minaj, Travis Scott and others, has bought some 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 fans to welcome him, which they did with pleasure.
Murda Beatz (Shane Lee Lindstrom) is a Canadian record producer. She has worked on eight Grammy nominated albums with the likes of: Cardi B, Travis Scott, Nipsey Hussle. He produced Drake’s big hit „Nice for What“, which was number 1 on the Billboard Hot 100 for 8 weeks.
Failed Bitcoin ATM robbery puts Canadian companies out of business
A Canadian shop was severely damaged during an attempted robbery of a BTC ATM and is no longer able to serve customers.
As reported by the Vernon Morning Star, the front of the L&D Meats and Deli shop in Kelowna, British Columbia was destroyed. Two suspects backed up their GMC Sierra white pickup truck as they fled the scene.
Police said the couple, who are currently on the run, had been attempting to rob a BTC cash machine. Early Wednesday morning from the shop next to the deli.
A shop employee, Mike’s Produce, said the suspects had not been able to remove the ATM, which was located on the inside back wall. Despite thousands of dollars in damage, nothing was stolen, Officer Solana Pare, spokeswoman for the Royal Canadian Mounted Police in Kelowna, said in the report.