{"id":17342,"date":"2021-03-30T12:46:14","date_gmt":"2021-03-30T17:46:14","guid":{"rendered":"https:\/\/theamericangenius.com\/housing\/?p=17342"},"modified":"2021-03-30T12:46:14","modified_gmt":"2021-03-30T17:46:14","slug":"not-just-reddit-square-bought-bitcoin","status":"publish","type":"post","link":"https:\/\/theamericangenius.com\/housing\/real-estate-tech\/not-just-reddit-square-bought-bitcoin\/","title":{"rendered":"It’s not just Redditors: Square has bought a ton of Bitcoin"},"content":{"rendered":"

Cryptocurrency isn\u2019t just for your friends who spend too much time on Reddit and that one uncle who somehow seems to have a brand-new iPhone every year. Square, the renowned point-of-sale system for individuals and small businesses, just purchased a ton of Bitcoin<\/a>\u2014and this isn\u2019t even the first time they\u2019ve done so.<\/p>\n

Square announced in February that they had purchased $170 million worth of Bitcoin\u2014approximately 3,318 Bitcoins\u2014which added to their prior balance of 4,709 Bitcoins. This leaves them with a grand total of over 8000 Bitcoins, thus contributing to roughly five percent of the platform\u2019s assets.<\/p>\n

Bitcoin is currently valued at just under $58,000 per share; Square\u2019s purchase came at a time during which Bitcoin was valued closer to $51,000, making the investment lucrative enough for the time being. While cryptocurrency has demonstrated its fragility and volatility in the past, Bitcoin appears resilient enough to take a chance on\u2014at least, that seems to be the case with Square.<\/p>\n

The phenomenon of mainstream companies investing in cryptocurrency isn\u2019t restricted to Square, either. Tesla recently acquired $1.5 billion in Bitcoin, citing a desire to diversify and expand their portfolio.<\/p>\n

To be fair, Square\u2019s purchase of so much Bitcoin\u2014a move described by CEO Jack Dorsey as an \u201congoing commitment to bitcoin\u201d\u2014makes sense as a payment management system. As Bitcoin and other cryptocurrencies progress toward mainstream acceptance, one can only assume that these digital currencies will become more commonplace as actual methods of payment. Owning a decent share of the currency can\u2019t hurt their standing whenever that happens.<\/p>\n

In fact, plenty of online marketplaces accept Bitcoin now, and you don\u2019t even need Tor and a hearty VPN to access them. Additionally, services like Coinbase offer apps and guides for brick-and-mortar locations which accept Bitcoin. Cryptocurrency is certainly making its way into the real world in one way or another; companies like Square and Tesla using them to diversify and grow only serves to expedite that process.<\/p>\n

Bitcoin and other cryptocurrency items have been popping up in all sorts of weird places lately<\/a>. Between the high risk, high reward nature of cryptocurrency and the increasing mainstream allure, it was only a matter of time before companies started investing seriously. Square and Tesla may be some of the first high-profile examples, but they won\u2019t be the last.<\/p>\n","protected":false},"excerpt":{"rendered":"

(REAL ESTATE TECH NEWS) Square just acquired $170 million in Bitcoin, and it\u2019s not even the first time they\u2019ve invested in cryptocurrency.<\/p>\n","protected":false},"author":337375,"featured_media":17343,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"wds_primary_category":0,"footnotes":"","jetpack_post_was_ever_published":false,"_links_to":"","_links_to_target":""},"categories":[93],"tags":[2191,1661,1234,2192],"class_list":["post-17342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-tech","tag-bitcoin","tag-cryptocurrency","tag-real-estate-news","tag-square"],"jetpack_featured_media_url":"https:\/\/theamericangenius.com\/housing\/wp-content\/uploads\/sites\/2\/2021\/03\/BitcoinLady.jpg","jetpack_sharing_enabled":true,"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/17342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/users\/337375"}],"replies":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/comments?post=17342"}],"version-history":[{"count":2,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/17342\/revisions"}],"predecessor-version":[{"id":17349,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/17342\/revisions\/17349"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/media\/17343"}],"wp:attachment":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/media?parent=17342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/categories?post=17342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/tags?post=17342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}