Square jumped as much as 3% on Thursday after it announced it had purchased 4,709 bitcoins for an aggregate price of $50 million.
Square …
Square jumped as much as 3% on Thursday after it announced it had purchased 4,709 bitcoins for an aggregate price of $50 million. Square paid an average price of $10,617 for each bitcoin. The company said it was able to make the $50 million purchase within a day without disrupting the markets. The firm said its investment in the digital currency represents approximately 1% of its total assets at the end of the second quarter of 2020.
