Square reported Cash App’s Half Revenue Comes From Bitcoin Service
Twitter CEO Jack Dorsey payment company Square reported that Cash App’s half of the revenue comes from the only bitcoin service, reported on 27 February 2020.
According to the report, Cash App’s Bitcoin revenue of the fourth quarter is $178 million in 2019, on the other hand, the total revenue by excluding bitcoin revenue is around $183 million as per the published shareholder letter.
Basically, bitcoin is getting popularity day by day and new investors coming into it with the time that’s why the bitcoin payments service provides getting popularity as well.
The Square’s Cash App getting popular due to bitcoin as it is ranked the second most used finance app on the google play store and ranked twenty-three as the most-used app over all the apps on google play.
A year ago, Digital Payments company Square is hiring new 3-4 Crypto Engineers and 1 designer throughout the world and will pay salaries in Bitcoin
Previously, Square Payment Company of the USA reported the annual Profit $166 million from Bitcoin in 2018 in their official annual report.