The company's bitcoin investment is a reflection of CEO Jack Dorsey's bullish stance on cryptocurrencies.
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Read the original article on Business Insider. SEE ALSO: The research director at Grayscale breaks down 5 digital tokens other than bitcoin and ethereum that he is newly tracking - and shares 3 emerging opportunities he's monitoring ». Indices in This Article.
Dow Jones 33, Well done, Jack! Bitcoin is inevitable.
- Square Unveils Bitcoin Auto Payments Tool - CoinDesk.
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- Jack Dorsey's Cash App is allowing users to send and receive bitcoin without any transaction fees.
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Many transactions on the app are already free, but there are some cases in which a user may be charged a small fee. The company facilitated many retail bitcoin investor transactions so far in the first quarter this year, resulting in the cohort accumulating the cryptocurrency faster than institutional investors. JPMorgan found retail investors have bought , bitcoins so far this quarter, compared to about , bitcoins that institutions have purchased.
Square Payment Volume Disappoints Amid Further Bitcoin Investment
Bitcoin was last trading around 1. Jack Dorsey's Cash App is allowing users to send and receive bitcoin without any transaction fees. As assets poured into the exchange-traded fund, the managers began to reshape the portfolio: moving from a small-cap to a mid-cap focus, with some large-cap names.
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