Square Buys Additional $170 Million in Bitcoin

MediaAuthority.id – Payments giant Square bought an additional $170 million BTC, adding to the stash purchased in October 2022.

The company added 3,318 BTC to its treasury for $170 million, or at a purchase price of $51,235.70 per BTC.

When Square’s announcement was released, the bitcoin price was below $48,000, which means that 3,318 BTC was then worth less than $160 million.

Square previously bought 4,709 BTC in October 2022, which was worth $50 million at the time. Currently, the investment is worth $224 million. The total value of the BTC company on Square’s balance sheet is $394 million.

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