Jack Dorsey's payments company is the second publicly traded firm to put some portion of corporate reserves into bitcoin, following MicroStrategy's $425 million all-in bet.
Bitcoin profit through Square’s Cash App was $7 million in the first quarter of 2020. It earned $8 million in bitcoin profit through the whole of 2019.
Square, the bitcoin-friendly company behind Cash App, announced Monday it is participating in the U.S. government’s emergency Paycheck Protection Program.