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More than 4700 BTC acquired by Jack Dorsey & square

More than 4700 BTC acquired by Jack Dorsey & square

Quick take

1 minute read

  • Square, confounded by Jack Dorsey has just recently announced the acquisition of 4700 bitcoins. 
  • This would be worth around $50 million and this news comes after another public traded company, MicroStrategy decided to convert a portion of their own assets into the leading cryptocurrency.

Square, confounded by the founder of Twitter, Jack Dorsey has just recently announced the acquisition of 4700 bitcoins. This would be worth around $50 million at the time of writing and this news comes after another public traded company, MicroStrategy decided to convert a portion of their own assets into the leading cryptocurrency.

Jack Dorsey is well known to be a big advocate for the world of cryptocurrency and blockchain so it’s no surprise That’s one of his many companies got involved with the sector in one way or another. The company published a press release to go alongside the move indicating that it was an ideological statement in acquiring such a massive amount of bitcoin.

“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.”

You can read the press release here.

For more news on this and other crypto updates, keep it with CryptoDaily!

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