Bitcoin Forum
September 20, 2018, 03:43:31 PM *
News: ♦♦ Bitcoin Core users must update to 0.16.3 [Torrent]. More info.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Square Seeing ‘Real Growth’ in Bitcoin User Base: CFO  (Read 15 times)
oksgvardukraine2018
Jr. Member
*
Offline Offline

Activity: 98
Merit: 5

https://www.entrade.io/


View Profile
August 04, 2018, 07:26:02 AM
 #1

Square Seeing ‘Real Growth’ in Bitcoin User Base: CFO

Square Inc. Chief Financial Officer Sarah Friar has hailed the impact of bitcoin support on the company as it continues to record strong growth driven primarily by its flagship Cash App, also known as Square Cash.

“Rarefied Air”
In a discussion with Emily Chang on Bloomberg TV, Friar remarked that the company is “super impressed” with their second quarter results, which showed 60 percent top line growth.

When asked about the importance of bitcoin to Square’s performance, she at first sought to downplay it, pointing out that in Dec. 2017 — before crypto support went live — the app recorded seven million monthly active users.

Pressed further, however, she commented:

“There is real growth under the hood because we are a top 30 app in the app store. In fact yesterday we were 15th and we might go even higher toward the end of the week. That’s rarefied air, and that’s a good way to monitor the growth that’s going on on the platform.”

Square’s Utility Strategy
In answer to a question about why the app allows people to buy and sell bitcoin but not send or receive it, Friar revealed that Square’s strategy is to establish the utility of any service before offering it.

In Square’s opinion, it is key to make sure that there is actual demand and use case for a service before building support for it. Providing a platform to buy and sell bitcoin, or pay for transactions with bitcoin, she said, is the easiest route into the market, from where it will be better placed to expand its service offering.

In her words:

“Crypto is just one of many pieces of utility that people want. It’s not the be all and end all that I think we hear a lot on financial news. Rather it’s just like any other form of investing. People want to have access and that’s what Square’s purpose is.”

CCN earlier reported that Square’s cryptocurrency profits experienced a 100 percent growth rate in Q2 2018 despite the overall crypto bear market, indicating that users have established genuine utility in the app that transcends market vagaries and speculative movements.

2018 has been something of a red-letter year for Square in general. In June, CCN reported that it achieved a market capitalization all-time high after being awarded a New York BitLicense.

Notably, CEO Jack Dorsey has been extremely bullish on bitcoin, recently predicting that it will be the world’s leading currency within ten years.

https://www.ccn.com/square-seeing-real-growth-in-bitcoin-user-base-cfo/

●● Entrade.io ●●
◆ The Future Blockchain Marketplace for Social Impact Renewable Energy Projects ◆
1537458211
Hero Member
*
Offline Offline

Posts: 1537458211

View Profile Personal Message (Offline)

Ignore
1537458211
Reply with quote  #2

1537458211
Report to moderator
Make a difference with your Ether.
Donate Ether for the greater good.
SPRING.WETRUST.IO
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1537458211
Hero Member
*
Offline Offline

Posts: 1537458211

View Profile Personal Message (Offline)

Ignore
1537458211
Reply with quote  #2

1537458211
Report to moderator
1537458211
Hero Member
*
Offline Offline

Posts: 1537458211

View Profile Personal Message (Offline)

Ignore
1537458211
Reply with quote  #2

1537458211
Report to moderator
jeronimosuykens
Member
**
Offline Offline

Activity: 280
Merit: 10

Mainstream For The Underground


View Profile
August 16, 2018, 01:18:20 PM
 #2

The information you give is quite useful and detailed. Well hopefully this will be a chance for the return of bitcoin. Whatever the case, the investor community is very optimistic about its future. To make it more useful and meaningful to the society, many people make better profits.

MFTU   Mainstream For The Underground   Whitepaper
RADIO   ANN Thread   Twitter   Telegram
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!