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Square Buys Additional $170M Worth of Bitcoin (BTC) to Boost Its Holdings
Coinfomania
Wed, Feb 24, 2021 12:41 AM by Coinfomania
Square Buys Additional $170M Worth of Bitcoin (BTC) to Boost Its Holdings
Ahead of its fourth-quarter earnings call, payments company Square announced Tuesday that it purchased 3,318 bitcoins for $170 million, bringing its Bitcoin holdings to 8,027 BTC. The company had acquired 4,709 BTC (appr. $50 million) in October, an investment that had jumped by up to four times since then. Square did not reveal the exact price at which it purchased the latest stack. However, the numbers suggest that the aggregate purchase price would be around $51,235.7 per BTC for the $170 million purchase of 3318 bitcoins. Thus, it is likely that Square’s buying took place last week when BTC broke
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