Press "Enter" to skip to content

Square, led by Dorsey, “Bitcoin investment policy remains unchanged”

Cryptocurrency

Square’s future Bitcoin investment policy

It turns out that Square, a US company that provides mobile payments, has announced its future investment policy regarding crypto assets (virtual currency) Bitcoin (BTC).

Square is a listed company that has Bitcoin as a financial asset and currently holds about 8,000 BTC. The first purchase was in October 2020, and there is a history of additional purchases made in February of this year.

Relation: Twitter founder-owned Square purchases additional Bitcoin worth about 18 billion yen

This time, the company’s CEO Jack Dorsey and CFO Amrita Ahuja (Chief Financial Officer) posted on SNS, denying what financial media Financial News reported on the 14th. “Square has no plans to buy more Bitcoin at this time, and there are other ways to learn about Bitcoin,” Ahuja said in a press report.

However, Mr. Ahuja pointed out that there is a difference in the response on the 15th, “We Square’s Bitcoin strategy has not changed, and we are committed to the community such as promoting the Bitcoin clean energy initiative. “As we announced in February, we will continue to consider investing in Bitcoin,” he said.

“Bitcoin is changing everything for the better, and we’re going to make it better,” Dorsey said of Ahuja’s post.

Ripples called by Tesla

It is believed that Tesla recently stopped Bitcoin payments behind the debate over whether Square’s Bitcoin investment policy has changed.

Relation: Bitcoin plunge Tesla’s BTC settlement cancellation received

On the 13th, CEO Elon Musk reported that “Tesla has announced that it will stop Bitcoin payments” because the use of fossil fuels such as coal, which is rapidly increasing in Bitcoin mining and transactions, will be higher than it is now. Was mentioned. Meanwhile, Tesla said it had no plans to sell Bitcoin, which it had received from car sales, but feared that the industry would be affected by Tesla and that companies already investing in Bitcoin could follow suit. It seems that it was put out.

However, shortly thereafter, MicroStrategy, which owns the most Bitcoin, announced that it had bought 271 BTC with cash of $ 15 million (1.64 billion yen), and the company’s CEO Sailor announced that Bitcoin mining’s energy use and network effects The attitude of consistently supporting Bitcoin was shown again, such as explaining about.

Square was the first to comment on Bitcoin after Tesla’s announcement, but in April of this year, CEO Dorsey posted that “Bitcoin provides an incentive to use renewable energy.” On the other hand, at that time, CEO Musk replied, “That’s right,” so there is a possibility that energy consumption and holding value in Bitcoin and virtual currencies will be discussed a lot in other industries in the future.

N https://imgs.coinpost-ext.com/uploads/2020/12/bitcoin2021.jpg->

Author: Lewis Kikutani

Images used under Shutterstock license
“Cryptocurrency” means “cryptographic assets”

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.