Posted 3 years ago | by Ben Armstrong
Jack Dorsey Crazy for BTC
On a recent earnings call, Jack Dorsey made a prominent remark to share holders in regards to Bitcoin's performance on Square's Cash App. As he looked at the level of Bitcoin transactions on the app during the call, he stated that, "We love you Bitcoin". And after $125M worth of Bitcoin revenue running through the app, it's no surprise that he would make such a statement. He went on to say:
We saw 3.5 million customers use Cash Card in June, typically using it to purchase multiple times per week. Our seller and Cash App ecosystems have incredible roadmaps ahead to deliver on our purpose of economic empowerment.
A visual chart for the representation of Bitcoin sales growth on the app over the last 6 quarters was posted on twitter by Kevin Rooke:
Square customers bought $125 million of Bitcoin last quarter on Cash App!
That’s 5 straight quarters of *accelerating* revenue growth for Square's Bitcoin business, and 237% growth YoY.
TO THE MOON ? pic.twitter.com/6A3bNtaMTF
— Kevin Rooke (@kerooke) August 1, 2019
The growth is quite astonishing when one considers that this app didn't even exist two years ago. The rate at which technology is booming cannot be understated. Bitcoin certainly fits that description as the number of transactions per year have already passed an all time high. It feels as if the excitement is building all across the crypto community. Jack Dorsey isn't alone with his sentimental feelings toward the oldest and biggest cryptocurrency.
To find out more about this story and Bitcoin news from today, watch today's BitBoy Crypto video: