Jack Dorsey – founder of the US-based social media platform Twitter and payments provider Square has publicly said: ”We love you Bitcoin.” after receiving a major investment fund in the major cryptocurrency.
Square, which originally supports BTC, has recently revealed its Q2 2019 results. The report has showed the significant BTC has made on the firm’s Cash App revenue.
Specifically, Dorsey claimed that the ecosystem of Cash App is growing rapidly. According to one shareholder of Square, Cash App has acquired $135 million in services, subscription and transaction-based revenue, in which Bitcoin revenue has taken nearly $125 million.
Recognizing the proportion of Bitcoin revenue to the total profit, Dorsey said:
“We love you, Bitcoin […] 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.”
Adding to the founder’s statement, the investor Kevin Rooke has explained via a tweet that around “7% of all Bitcoin mined in the past 3 months was acquired via a single app that didn’t exist two years ago,” adding: “let that sink in.”
Dorsey is famously known for strongly holding and advocating the view that Bitcoin is the Internet’s native currency. Earlier, Jack Dorsey has reportedly hinted that he may be spending as much as $10,000 a week buying Bitcoin (BTC).