Square paid $50 million for Credit Karma’s tax filing service to integrate it into Cash App, its crypto-enabled mobile payments service.
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Chainalysis: A worsening shortage is behind bitcoin’s skyrocketing price
Big and smart money investors are buying up and holding onto BTC far faster than miners can produce it as the first cryptocurrency comes into its own as an inflation hedge
The amount of liquid bitcoin—that held by wallets that trade as oppose to hold—"is similar to what it was during the 2017 bull run,” the blog said. “ But the amount held in illiquid wallets is much higher, currently representing 77% of the 14.8 million Bitcoin mined that isn’t categorized as lost... That leaves a pool of just 3.4 million Bitcoin readily available to buyers as demand increases.”
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Square’s Cash App made $1.6B on Bitcoin transactions this quarter
The Q3 revenue of Square’s mobile finance application was up 11 times and is growing rapidly
In a shareholder letter Square released on Nov. 5, the company noted that “Cash App generated $1.63 Billion of bitcoin revenue and $32 million of” gross profit in Q3 2020. The company also highlighted that year-over-year the Bitcoin revenue increased 11 times while the revenue was up 15 times.
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Twitter’s Jack Dorsey: Bitcoin is inherently political
In criticizing Coinbase CEO Brian Armstrong’s refusal to endorse BLM, Jack Dorsey argues that political activism is in crypto’s DNA
Jack Dorsey suggested in a tweet sent on Sept. 30 that Bitcoin cannot be separated from political activism, which makes Coinbase CEO Brian Armstrong’s decision to not take a position on the Black Lives Matter movement pointless.
