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Square buys $170 million worth of bitcoin – CNBC
The company said it bought approximately 3,318 bitcoins, expanding on its October 2020 purchase of 4,709.
Square bought $170 million worth of bitcoin, the company revealed in its fiscal fourth-quarter financial report Tuesday.
The company said it purchased approximately 3,318 bitcoins, expanding on its October 2020 buy of 4,709. Square said it represents about 5% of the company’s total assets as of the end of 2020.
Bitcoin traded around $48,000 after-the-bell Tuesday, up nearly 62% for the year.
“The investment is part of Square’s ongoing commitment to bitcoin, and the company plans to assess its aggregate…
