Friday, May 8, 2020
Jack Dorsey buys up #bitcoin #twitter #Jack
#CashApp and #Grayscale took in 50% of all new #Bitcoin in Q1
Square, run by #Twitter CEO #JackDorsey, alone bought $306 million of Bitcoin in the first quarter of 2020.
#Square and Grayscale snapped up the equivalent of 50% of all newly mined Bitcoin.
Square, which is run by Twitter CEO Jack Dorsey, alone bought up $306 million.
For Square, it’s the biggest percentage increase in a single quarter, period.
Grayscale is a crypto investment fund, and Square, a payments company run by Twitter CEO Jack Dorsey, owns CashApp, whose users can buy Bitcoin.
Combined, they have bought up approximately 85,000 Bitcoin, worth $695 million, according to ListedReserve, a firm that runs several Bitcoin funds, which compiled data from publicly issued documents. During the same time period, 163,800 Bitcoin was mined. They may have purchased the Bitcoin from miners, or exchanges, but it was equivalent to 52% of the Bitcoin mined that quarter.