\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\nSquare, Twitter CEO Jack Dorsey\u2019s payment company, has invested $50 million into Bitcoin. In a statement today, the company announced that it purchased 4,709 Bitcoins. This is a part of the firm\u2019s investment strategy. The purchase represents approximately one percent of Square\u2019s total assets, according to data published in the second quarter of 2020.\r\n\r\nThe company said in a statement that the cryptocurrency is an economic empowerment tool. Square also believes, cryptos provides a way to participate in the global monetary system. Square, Inc. started trading Bitcoin in 2018 with the Cash App. It enables the selling and buying of leading cryptocurrency.\r\n\r\nAmrita Ahuja, Square\u2019s CFO, used the following statements:\r\n\u201cWe believe that bitcoin has the potential to be a more ubiquitous currency in the future. As it grows in adoption, we intend to learn and participate in a disciplined way. For a company that is building products based on a more inclusive future, this investment is a step on that journey.\u201d\r\nFrom a product, leadership, and legal innovation perspective, Square previously invested in bitcoin. Today added financial investment to this list.\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\nSecond public company to invest in Bitcoin\r\nSquare, Inc. became the secondary public company investing in Bitcoin after MicroStrategy. In August and September, business intelligence company MicroStrategy purchased a total of 38,250 BTC. According to MicroStrategy CEO Michael Saylor, the bitcoin purchase price aggregated $ 425 million, including fees and expenses. Saylor said that compared to gold and the US dollar, Bitcoin is not deflationary by design, but a superior asset for a reserve. It was predicted that the purchase made by MicroStrategy, would later be followed by other companies. Michael Saylor was saying that Bitcoin is \u201cthe best money ever created.\u201d\r\n\r\nSquare has purchased 4,709 BTC for now. This number may increase in the future, just as after the first purchase of MicroStrategy.\r\n\r\nMessari founder Ryan Selkis evaluated this development on Twitter. In his opinion, it is more important that Square bought Bitcoin than MicroStrategy bought Bitcoin. According to Selkis, this is because Square is a higher caliber company and invested in a more logical way.\r\n\r\n#coinsfera #cryptonews #buybitcoinistanbul #buybitcoindubai\r\n\r\nDisclaimer: All information provided in the content is for informational purposes only and should not perceive as an investment, financial, or trading advice. Any investment decision you make should be a personal choice based on financial knowledge, experience, and market research.