Published On: Fri, Apr 20th, 2018

Bitcoin Boosting Square Earnings

Share This

Since Square, Inc. added Bitcoin trading capabilities to its payment app, the value of its stocks has increased spectacularly. Dan Dolev, an analyst at Nomura Instinet, believes this ascending trajectory will most likely continue. As a result, Nomura Instinet raised its Square target price to $65 USD.
Bitcoin Makes Square Profitable
Dan Dolev predicts a “sizable boost” to Square’s revenues and profits in the first quarter, thanks to Square having added Bitcoin trading features on its payment app.
Dolev estimates that Square could generate $125 a year in revenue from each user who trades Bitcoin on the Square Cash app. CNBC reports:
That move could drive a ‘sizable boost’ to the tech company’s revenue and profits this quarter and a 10 percent potential upside to adjusted EBITDA guidance.
Square’s stock performance (SQ) has been impressive. Indeed, its stock value has increased over 180 percent in past 12 months, as shown in the chart below:
Square acquiesced to its clients’ demand by providing Bitcoin trading capabilities to its Cash App. In this regard, the company says:
Customers can now buy and sell Bitcoin in Cash App. We observed that this was a feature our customers …

Read more –> click here all content is copyright Bitcoinist.

Need Bitcoin marketing and PR? Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin or cryptocurrency press release CLICK HERE..

Powered by ABITCO.IN

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Most Popular Posts

ALL Bitcoin News

Like what you’re reading?

Never miss any breaking Bitcoin news by following us on Facebook and Twitter!