Jack Dorsey’s Square company bought Bitcoin for $ 170 million. In its financial statements for the fourth quarter and 2020, it noted that, in conjunction with a previous investment in cryptocurrency for $ 50 million, it transferred 5% of its total reserves to a digital asset. The company has acquired another 3,318 bitcoins, according to a new report from Square.
The paper profit from Square’s purchase of $ 50 million of bitcoins in October last year to date has exceeded $ 225 million.The last investment of $ 170 million took place at an average bitcoin rate of over $ 51,000.
