I think Bitcoin has a negligible impact on global non-cash payments market? In reality, cryptocurrency has long “draws” large profits for companies. Square recently released a report, which reported the increase in income in the second quarter of this year. This writes the Ethereum World News.
Earnings on cryptocurrency
Square, founded by Twitter Director Jack Dorsey, have long had a strong influence on the entire industry. In November 2017, the company worth $ 16 billion started to integrate Bitcoin in a variety of payment services, which gave a strong impetus to the development of the crypts.
Jack Dorsey earned a reputation as one of the most optimistic people from Silicon Valley. The CEO of Twitter has repeatedly predicted world domination of Bitcoin in ten years.
It is noteworthy that for the past few months, the community in two ways comments on Dorsey. Earlier Twitter was banned advertising projects related to cryptocurrency. However, it is unknown whether he made Dorsey a hand to it.
In its report to the SEC Square told about 70 millions of dollars in profits for the first half of 2018. This amount, the company managed to earn only through Bitcoin. It is noteworthy that in the second quarter of 2018 Square profits increased despite the fall of the stock market.
It also had a positive impact on the popularity of the brand. We will remind, in June, Square overcame one of the key milestones the company has received permission for official work in new York.
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