{"id":250013,"date":"2021-05-14T22:00:00","date_gmt":"2021-05-14T19:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/square-not-revisiting-its-bitcoin-allocation-but-still-interested-in-the-asset\/"},"modified":"2021-05-14T22:00:00","modified_gmt":"2021-05-14T19:00:00","slug":"square-not-revisiting-its-bitcoin-allocation-but-still-interested-in-the-asset","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/square-not-revisiting-its-bitcoin-allocation-but-still-interested-in-the-asset\/","title":{"rendered":"# Square not revisiting its Bitcoin allocation, but still interested in the asset"},"content":{"rendered":"

“# Square not revisiting its Bitcoin allocation, but still interested in the asset <\/strong>”
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Over the course of 2020 and 2021, Square bought over $200 million worth of Bitcoin. At present, the payments company does not anticipate picking up more of the asset, according to its chief financial officer, Amrita Ahuja.\u00a0<\/p>\n

In an interview with Financial News<\/a>, reported on Friday, Ahuja said<\/a>: \u201cWe don\u2019t have any plans at this point to make further purchases.\u201d She added: \u201cThere\u2019s no plans at this point to re-evaluate where we are from a treasury standpoint.”<\/p>\n

Cointelegraph reached out to Square for additional comments, but did not receive a response in time for publication.\u00a0<\/p>\n

In October 2020, Square announced buying $50 million worth of Bitcoin (BTC), which equated to 4,709 BTC, given the asset\u2019s prices back then. In February 2021, the company announced picking up $170 million worth of additional Bitcoin, which paid for roughly 3,318 coins.<\/p>\n

May has hosted<\/a> sideways and downward price action from Bitcoin, although Square has still seen some significant profit from its BTC holdings. \u201cIn Square\u2019s most recent quarterly earnings, published on 6 May, the company said it had lost $20m on its bitcoin investment despite its fair value rising to $472m based on market prices,\u201d Financial News detailed. <\/p>\n

Square\u2019s Bitcoin involvement does not stop at its purchasing of the asset, however. The company\u2019s Cash App<\/a> facilitates free Bitcoin transactions, unveiled<\/a> in March, as per Square\u2019s May 6 earnings document. Square\u2019s Cash App also hosts Bitcoin trading. <\/p>\n

“Lots of other opportunities for [Square] to learn with bitcoin\u201d exist, Ahuja told Financial News following her comments on the company\u2019s stance on its Bitcoin holdings. <\/p>\n

She also said in the interview:<\/p>\n

\u201cWe\u2019re always evaluating and as ever, I think we\u2019d be customer-led […] As we see the evolution of the bitcoin product or crypto products in general<\/a>, I think we\u2019ll make further assessments at that point.\u201d<\/p><\/blockquote>\n

Square\u2019s CEO, Jack Dorsey, has spoken positively of Bitcoin on a number of occasions. <\/p>\n