Crypto

Square’s Bitcoin Sales Volume Has Increased Sixfold Since Q1 2018

Getting more people interested in Bitcoin remains a big hurdle to overcome. Square, the popular financial services provider, is doing its part to make this happen.

Thousands of financial service providers exist around the world. Some of them explore options outside of traditional finance. 

Another Good Quarter for Square

Square is one of those providers, as they seemingly favor cryptocurrencies. The company allows users to buy and

sell Bitcoin.

Although that decision was risky at the time, users have taken a genuine interest in this option. Every quarter, the sales of Bitcoin have risen. 

Despite a rather lackluster start in 2018, things have improved significantly. During Q3 2019, Square noted the highest volume of Bitcoin sales to date.

Related Post

With $148m worth of transactions, the demand for cryptocurrencies is not slowing down. It also makes the sixth straight quarter of growth for the company in this department alone. 

Compared to the initial figures in Q1 2018, Square notes a strong growth overall. The volume has nearly tripled since then, despite Bitcoin’s price going through an extensive rough patch for most of 2018 and early 2019. 

These figures also confirm Square made the right call by letting clients buy and sell Bitcoin through their mobile app. It is likely that other service providers will integrate similar functionality over time.

The big question is what this means for the cryptocurrency industry. An increase in Square’s sales is promising, but not necessarily a market indicator.

Throughout 2019, the Bitcoin price has struggled to reach $10,000 and stay there. It now appears the final two months of the year may allow for this to happen again. 

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

OKX Wallet Sees Whales Massive Moves; More on Plus Wallet & Coinbase  

Plus Wallet Impresses with its Speedy 15-Min Token Listings While Coinbase Unveils AI Tool &…

28 mins ago

100% Bonus with BlockDAG! Ethereum Eyes Breakout, Sui Plans To Expand

BlockDAG Rolls Out Limited Time 100% Bonus For Community While Ethereum Price Looks Bullish &…

1 hour ago

Best Crypto Wallets 2024: Top Choices for Security & Rewards

The 5 Best Crypto Wallets Worth Using in 2024 — Find Out Why Selecting a…

2 hours ago

Ethereum Ecosystem Primed For A November Rally – ETH Coins Chainlink (LINK), Toncoin (TON), And Cutoshi (CUTO) The Ones To Watch

With a Total Value Locked (TVL) of $50.72B, Ethereum is the world's largest blockchain, with…

9 hours ago

Analysts Predict a Rollblock 5000% Surge Dwarfing Pepe Coin and Popcat Recent Fame

The meme coin market has recently been surging once again; tokens such as Pepe and…

19 hours ago

FLOKI Dominates Meme Market as Rollblock ICO Skyrockets. Is Polkadot Losing Its Edge?

The FLOKI price has recorded over 300% yearly ROI, dominating crypto gains in the meme…

19 hours ago