RATE Group | Twitter, Square Founder Jack Dorsey Says ‘We Love You Bitcoin’
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Twitter, Square Founder Jack Dorsey Says ‘We Love You Bitcoin’

04 Aug Twitter, Square Founder Jack Dorsey Says ‘We Love You Bitcoin’

Posted at 02:42h in Bitcoin News by

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Jack Dorsey — founder of social media giant Twitter and Bitcoin (BTC)-supporting payments provider Square — has said: “we love you Bitcoin.”

During an earnings call devoted to Square’s Q2 2019 results, Dorsey recognized the eye-popping impact that introducing Bitcoin support had on the company’s Cash App revenue. 

‘Delivering on economic empowerment’

In his remarks, Dorsey noted that the Cash App ecosystem continued to grow, generating $135 million in revenue — excluding Bitcoin. 

As reported just yesterday, Square’s latest shareholder letter has revealed that Cash App had raised $135 million in subscription, services and transaction-based revenue — and that separately, Bitcoin revenue alone accounted for $125 million. 

Bitcoin revenue in isolation thus sealed the company 92% of all that it raised across these other revenue sources. Dorsey said:

“We love you, Bitcoin […] we saw 3.5 million customers use Cash Card in June, typically using it to purchase…

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