Square’s Bitcoin Revenue Sees New All Time High, Drop Gold And Buy Bitcoin And Bitcoin Price Soars On Bitfinex — The Crypto2Cash Chronicle
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Square’s Bitcoin Revenue Sees New All Time High
Payment Company square has published it’s first quarter earnings yesterday. The company, founded by Twitter CEO and crypto advocate Jack Dorsey, noted a total Bitcoin revenue of $65.5 million, with a profit of roughly $832,000. This represents a profit gain of over 80 percent compared to last quarter’s $490,000 in profit. Compared to the total transaction based revenue which lies at $656 million, Bitcoin remains a niche product, but Square is dedicated to increase this number, being very active in the crypto space.
Drop Gold, Buy Bitcoin
Digital currency asset manager Grayscale Investments has launched it’s new marketing campaign called #DropGold. Grayscale is aiming to make “investment portfolios to reflect that bitcoin has become digital gold for today’s forward-thinking investors” and is especially marketing to the younger generations, showing that Bitcoin could be a very smart investment. Yesterday, the world’s largest cryptocurrency manager published a marketing spot on Twitter and within 24 hours the clip already got 75,000 views. Reactions within the crypto community were very positive and people seem to support the campaign.
Bitcoin Price Soars On Bitfinex
After this weeks controversy around the Tether Stablecoin and crypto exchange Bitfinex, Bitcoin is trading more than $300 higher on said exchange. While the average price on other exchanges is $5,270, Bitcoin is trading at $5,570 on Bitfinex. This is probably due to the fact that users lost trust in Tether and are selling it for Bitcoin, driving up the price. The exchange is also seeing some users leaving the platform due to it’s problematic banking relationships and it is also rumored that Bitfinex is planning an Inital Exchange Offering, so the exchange will probably make many more headlines in the near future.
(Source: Bloomberg)
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