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

Binance Coin Whales Reap Big Profits as Polkadot Struggles; A New Crypto Presale Is Dominating Investor Attention

BNB is already flashing signs of a bearish sentiment despite launching a new stablecoin while…

51 mins ago

Three Crypto That Surprised The Market: Rollblock, Cardano, and XRP

The crypto market is no stranger to unexpected twists. However, the recent performances of Rollblock,…

55 mins ago

As Bonk (BONK) and Pepe (PEPE) Shine, Rollblock (RBLK) Captures the Market’s Attention With Upcoming Reveal

Meme coins are back with a bang and are as insanely volatile as ever! Bonk…

60 mins ago

2024’s Top 9 Crypto Staking Platforms to Make Passive Income

Staking has become one of the most effortless ways to generate passive income in the…

4 hours ago

Qubetics, Algorand, and Near Protocol: Best Cryptos to Buy in November 2024

Qubetics, Algorand, and Near Protocol: The Best Cryptos to Buy in November 2024—Which One Is…

15 hours ago

Top 6 Crypto Presales of 2024-2025: Secure Your Long-Term Gains Now

Are you on the lookout for the best crypto presale opportunities to secure your financial…

1 day ago