Yahoo Finance called the us payments firm Square that support bitcoin, best financial company in 2018.
According to Yahoo Finance, the company Square, founded by Jack Dorsey and Jim McKelvey in 2009, currently has a market capitalization of $ 26 billion. In late September, its shares rose by 170%, and in mid December at 72%.
In November last year Square announced that three million customers Square Cash App will have the ability to pay for goods and services through BTC. Five days after this announcement, the total value of the shares exceeded one billion dollars. In February of this year, Square began to support bitcoin payments throughout the United States, whereby the value of its shares increased again.
Cash App lead Brian Grassadonia said the share price increase is not the cause of the introduction of support for BTC. He stressed that the company has a positive attitude towards cryptocurrencies because they provide democratic access to financial instruments, which always seemed complicated and confusing for potential customers.
In November, Square announced that in the third quarter of this year its profit amounted to $ 43 million in bitcoins, whereas in the previous quarter, it earned $ 37 million. At the same time the company's market capitalization exceeded the value of the popular social network Twitter, which shares Jack Dorsey as its CEO.