Mobile payment and merchant services aggregator giant Square, provided a shareholder update for Q3 2018 and revealed $43MM in Bitcoin revenues.
However, Square, whose market cap of $30B now exceeds that of Twitter’s $25B only generated $500,000 profits on the BTC proceeds.
Square CEO, Jack Dorsey is a big supporter of cryptocurrency stating in a forward thinking statement earlier this year that: ‘The internet is going to have a native currency so let’s not wait for it to happen, let’s help it happen. I don’t know if it will be bitcoin but I hope it will be.’
Square’s total revenue last year (2017) was $2.2B.