Square Payment Company reported annual Profit $166 million from Bitcoin
Square Payment Company of the USA reported the annual Profit $166 million from Bitcoin in 2018 in their official annual report published on Feb. 27.
Square payment company was created by Bitcoin Believer Twitter CEO Jack Dorsey. Jack already announced to support Bitcoin Lightning Network on the Twitter and will also use it on the Square payment platform.
Jack Dorsey invested in Bitcoin which he confirmed by Tweet on Twitter last month. He believes in Bitcoin and Blockchain Technology.
Square reported this quarter earnings about $52.5 million and a total of $166 million from the last year 2018 through Bitcoin Transactions.
Square was started offering Bitcoin purchasing from Q1 2018 and Company earned $166 million in total in just starting the year which is really motivational for the company.
Square founder Jack Dorsey has positive thoughts regarding Bitcoin and he wanted to use Bitcoin in more simple ways through Square payment protocol. He wanted to use Lightning Network in Square which opens the doors for adoption in common public payments as lightning provide very fast speed and negligible transaction fee.
Bitcoinik reported yesterday that Cryptopia Newzealand based cryptocurrency exchange will reopen soon. Cryptopia was hacked on 14 Jan.
