Cryptocurrency Q&A
How much will square's new purchase of bitcoins cost?
How much will square's new purchase of bitcoins cost?
Ilaria
Tue Jul 16 2024
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7 answers
1220
Could you please elaborate on the financial implications of Square's recent acquisition of bitcoins? I'm particularly interested in understanding the estimated cost of this transaction. Given the volatile nature of cryptocurrencies, what factors might have influenced Square's decision to purchase bitcoins, and how much did it ultimately cost them? Furthermore, what implications does this significant purchase have for Square's financial standing and long-term strategic objectives?
7 answers
Federico
Thu Jul 18 2024
Square disclosed that it purchased 3,318 bitcoins, providing insight into the scale of its investment.
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Arianna
Thu Jul 18 2024
The payments company has recently made a significant purchase of bitcoin, bolstering its overall holdings.
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Valentina
Thu Jul 18 2024
This new acquisition elevates the company's total bitcoin holdings to approximately 5% of its cash and cash equivalents.
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SeoulSerenitySeekerPeace
Thu Jul 18 2024
This percentage represents a substantial allocation of the company's liquid assets towards the cryptocurrency.
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Federico
Wed Jul 17 2024
Calculating the average price per bitcoin based on this purchase reveals an average of $51,235 per coin.
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