Square Customers Buy $2.72 Billion Worth Of Bitcoin In Q2


In a new shareholder letter published Sunday, payments giant Square revealed customers brought in $2.72 billion worth of bitcoin in Q2 of this year.

Square’s total net revenue of Q2 this year was $4.68 billion, up 143% year over year, for a gross profit of $1.14 billion, up 91% since 2020.

But while Bitcoin has played a significant role in the company’s revenue in 2021, raking in 3x year over year return on their investment, the firm sought to portray its support for the network as necessary for building and fostering a more useful Bitcoin ecosystem.

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