Assets, Bitcoin

Is Square Buying Bitcoin?

Cryptocurrency payment processor Square is reportedly in talks with Bitcoin exchanges about buying the digital currency.

The move would allow Square’s customers to buy Bitcoin through the company’s Cash app, according to a report from The New York Times.

Square is already allowing its customers to buy and sell Bitcoin on its Cash app, but the company does not currently offer a way to buy the digital currency.

NOTE: WARNING: Investing in Bitcoin is a high-risk activity, and is not suitable for everyone. Before deciding to invest in Bitcoin, you should carefully consider your investment objectives, level of experience, and risk appetite. You should be aware of all the risks associated with cryptocurrency investments, and seek advice from an independent financial adviser if you have any doubts. Additionally, buying Bitcoin through Square is not regulated by any government or financial regulator. Therefore, you may be exposed to additional risks associated with investing in Bitcoin through this platform.

If the reports are true, it would be a big move for Square, which has been a supporter of Bitcoin since it started allowing its customers to buy and sell the digital currency on its Cash app in early 2018.

Square is just one of many companies that have been exploring ways to enter the cryptocurrency space. Goldman Sachs is reportedly planning to set up a trading desk for Bitcoin and other digital currencies, while JPMorgan Chase has been working on a blockchain-based platform for processing payments.

The cryptocurrency market has been on a roller coaster ride over the past year, with prices falling sharply from their highs in late 2017. But interest in Bitcoin and other digital currencies has continued to grow, as more people become aware of the potential of blockchain technology.

If Square does decide to enter the cryptocurrency market, it would be another sign that mainstream companies are starting to take Bitcoin and other digital currencies seriously.

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