Why Square Is Buying $50 Million Worth Of Bitcoin

The Financial Times reports that Square is buying $50 million worth of the virtual currency called “Bitcoin” which has risen in value in recent months. Square’s acquisition of this highly liquid, popular digital currency is one that will surely increase Square’s profit margins and perhaps even the value of the entire industry.


Square says that it made its decision to acquire this new acquisition after analyzing the current financial and technological climate that has characterized the global economy in the last decade or so. According to Square, these economic conditions have created a need for companies to diversify their business strategies and find ways to secure their investments without taking on greater financial risks. Square CEO Jack Dorsey believes that a company like Square can take advantage of this market by introducing a new product to the virtual world that provides the convenience of purchasing something directly from a merchant without the need to go through a middleman.


Square is betting that there will be a lot of competition in this niche of the market, which is particularly ripe for the taking because of the fact that there are no barriers to entry, and thus, the cost of starting such an operation may be very low. The company is also confident that its service will be welcomed with open arms by millions of Internet users around the world and that many of them will buy Square products for their online transactions.


Square says that this acquisition will not significantly change how it does business, but will instead focus on increasing revenue and profits. This includes using the virtual currency as a way of lowering costs associated with the sales process and the use of Square products to expand the number of transactions that can be done through the company’s website. Square also hopes that this acquisition will help it make a strong move in the future into the realm of payments technology.


Square has long been focused on the field of payments technology because of the tremendous potential for growth it sees in this sector. In the coming years, Square plans to introduce its own mobile payment service on cell phones and possibly even onto smart cards and smart watches, and it also hopes to expand its reach into the banking and finance industries.


There will obviously be some initial hiccups for Square when it attempts to penetrate into the banking world, but the company hopes that these issues can be overcome as it gains more experience. Once Square is up and running, it will face off against the major credit card companies as well as the larger merchant accounts.