{"id":459882,"date":"2021-03-29T19:55:49","date_gmt":"2021-03-29T19:55:49","guid":{"rendered":"https:\/\/uniquehot.com\/?p=459882"},"modified":"2021-03-29T19:58:34","modified_gmt":"2021-03-29T19:58:34","slug":"this-is-why-all-companies-should-buy-bitcoin-says-squares-cfo","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/this-is-why-all-companies-should-buy-bitcoin-says-squares-cfo\/","title":{"rendered":"This is why all companies should buy Bitcoin, says Square&#8217;s CFO"},"content":{"rendered":"<p>In an interview for Fortune, Square CFO Amrita Ahuja made the corporate case for Bitcoin adoption. In Michael Saylor, CEO of Microstrategy, style Ahuja <a href=\"https:\/\/fortune.com\/2021\/03\/28\/square-cfo-amrita-ahuja-is-betting-big-on-bitcoin\/\" target=\"_blank\" rel=\"nofollow\">asserted<\/a> that the cryptocurrency is part of an evolution of financial services globally.<\/p>\n<p>Square, led by Jack Dorsey, and the Saylor-led company were among the first publicly traded companies in the U.S. to add BTC to their treasuries. Their adoption thesis, to protect the value of their companies in the midst of an inflationary macroeconomic environment. Ahuja told Fortune:<\/p>\n<blockquote><p>There&#8217;s absolutely a case for every balance sheet to have Bitcoin on it. The investment that we made on our balance sheet for Bitcoin represents about 5% of our cash; we intend to hold for the long term.<\/p><\/blockquote>\n<p>The executive stated that the company&#8217;s long-term plan is to maintain its investment in Bitcoin, following the strategy proposed by MicroStrategy and Tesla CEO Elon Musk. Recently, this company revealed the details for accepting BTC to purchase its products and, via Twitter, <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/pizza-day-tesla-buy-bitcoin-btc\/\">Musk stated that they would keep the funds in BTC.<\/a><\/p>\n<p>Purchases of BTC by Square, MicroStrategy, Tesla, and others set off a domino effect that has propelled institutional participation to unprecedented levels. In Canada, 3 financial products were approved to give investors BTC exposure and, as analyst Lex Moskovski shows, their performance has exceeded any expectations.<\/p>\n<p>https:\/\/twitter.com\/mskvsk\/status\/84792832<\/p>\n<h2>Bitcoin usage in Cash App accelerates<\/h2>\n<p>The Covid-19 pandemic has accelerated the adoption of digital payment methods and cryptocurrencies. In support of this claim, Square&#8217;s CFO said that in January of this year alone 1 million new consumers used Cash App to buy Bitcoin. In 2020, at least 3 million people used Square&#8217;s product to trade with the cryptocurrency.<\/p>\n<p>The executive revealed that in support of Bitcoin adoption, they have eliminated transaction fees within Cash App for users of the cryptocurrency. In parallel, the company will continue to hand out grants to Bitcoin developers to support the growth of the ecosystem and its protocol.<\/p>\n<p>Via Twitter, Square&#8217;s Crypto department announced that its scholarship recipients will be able to choose how they want to receive their funds. Scholarship recipients will be able to choose between BTC or fiat currency.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Starting now, Square Crypto grantees have the option to denominate funding in bitcoin, dollars, or calzones.<\/p>\n<p>&mdash; Spiral (@spiralbtc) <a href=\"https:\/\/twitter.com\/spiralbtc\/status\/43879174?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 29, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-rallies-strongly-as-a-30bn-dump-rattles-us-stock-futures\/\">Bitcoin is trading<\/a> at $57,675 with gains of 4.9% in the last 24 hours. In the last week, the cryptocurrency has moved sideways (0.2%) but holds its gains at 23.9% for the last month.<\/p>\n<figure id=\"attachment_459885\" aria-describedby=\"caption-attachment-459885\" style=\"width: 740px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-459885 size-full\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/Bitcoin-BTC29-1.jpg?resize=740%2C365\" alt=\"\" width=\"740\" height=\"365\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/Bitcoin-BTC29-1.jpg?w=740 740w, https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/Bitcoin-BTC29-1.jpg?w=460 460w\" sizes=\"(max-width: 740px) 100vw, 740px\"><figcaption id=\"caption-attachment-459885\" class=\"wp-caption-text\">BTC with moderate gains in the 24-hour chart. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/a4lKch7J\/\" target=\"_blank\" rel=\"nofollow\">BTCUSD Tradingview<\/a><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>In an interview for Fortune, Square CFO Amrita Ahuja made the corporate case for Bitcoin adoption. In Michael Saylor, CEO of Microstrategy, style Ahuja asserted that the cryptocurrency is part of an evolution of financial services globally. Square, led by Jack Dorsey, and the Saylor-led company were among the first publicly traded companies in the U.S. to add BTC to their treasuries. Their adoption thesis, to protect the value of their companies in the midst of an inflationary macroeconomic environment. Ahuja told Fortune: There&#8217;s absolutely a case for every balance sheet to have Bitcoin on it. The investment that we made on our balance sheet for Bitcoin represents about 5% of our cash; we intend to hold for the long term. The executive stated that the company&#8217;s long-term plan is to maintain its investment in Bitcoin, following the strategy proposed by MicroStrategy and Tesla CEO Elon Musk. Recently, this company revealed the details for accepting BTC to purchase its products and, via Twitter, Musk stated that they would keep the funds in BTC. Purchases of BTC by Square, MicroStrategy, Tesla, and others set off a domino effect that has propelled institutional participation to unprecedented levels. In Canada, 3 financial products were approved to give investors BTC exposure and, as analyst Lex Moskovski shows, their performance has exceeded any expectations. https:\/\/twitter.com\/mskvsk\/status\/84792832 Bitcoin usage in Cash App accelerates The Covid-19 pandemic has accelerated the adoption of digital payment methods and cryptocurrencies. In support of this claim, Square&#8217;s CFO said that in January of this year alone 1 million new consumers used Cash App to buy Bitcoin. In 2020, at least 3 million people used Square&#8217;s product to trade with the cryptocurrency. The executive revealed that in support of Bitcoin adoption, they have eliminated transaction fees within Cash App for users of the cryptocurrency. In parallel, the company will continue to hand out grants to Bitcoin developers to support the growth of the ecosystem and its protocol. Via Twitter, Square&#8217;s Crypto department announced that its scholarship recipients will be able to choose how they want to receive their funds. Scholarship recipients will be able to choose between BTC or fiat currency. Starting now, Square Crypto grantees have the option to denominate funding in bitcoin, dollars, or calzones. &mdash; Spiral (@spiralbtc) March 29, 2021 Bitcoin is trading at $57,675 with gains of 4.9% in the last 24 hours. In the last week, the cryptocurrency has moved sideways (0.2%) but holds its gains at 23.9% for the last month.<\/p>\n","protected":false},"author":535,"featured_media":459883,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,1119,1144],"class_list":["post-459882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\n<title>This is why all companies should buy Bitcoin, says Square&#039;s CFO<\/title>\n<meta name=\"description\" content=\"In an interview for Fortune, Square CFO Amrita Ahuja made the corporate case for Bitcoin adoption. 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In Michael Saylor, CEO of Microstrategy, style Ahuja\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/this-is-why-all-companies-should-buy-bitcoin-says-squares-cfo\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-29T19:55:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-03-29T19:58:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/Bitcoin-BTC29.jpg?fit=1070%2C714\" \/>\n\t<meta property=\"og:image:width\" content=\"1070\" \/>\n\t<meta property=\"og:image:height\" content=\"714\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Reynaldo Marquez\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@rl_m\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Reynaldo Marquez\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/this-is-why-all-companies-should-buy-bitcoin-says-squares-cfo\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/this-is-why-all-companies-should-buy-bitcoin-says-squares-cfo\/\"},\"author\":{\"name\":\"Reynaldo Marquez\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/6b25e0bbb04d6129ebb4d\"},\"headline\":\"This is why all companies should buy Bitcoin, says Square&#8217;s CFO\",\"datePublished\":\"2021-03-29T19:55:49+00:00\",\"dateModified\":\"2021-03-29T19:58:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/this-is-why-all-companies-should-buy-bitcoin-says-squares-cfo\/\"},\"wordCount\":427,\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/this-is-why-all-companies-should-buy-bitcoin-says-squares-cfo\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/Bitcoin-BTC29.jpg?fit=1070%2C714\",\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\"],\"articleSection\":[\"Bitcoin\",\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/uniquehot.com\/news\/this-is-why-all-companies-should-buy-bitcoin-says-squares-cfo\/\",\"url\":\"https:\/\/uniquehot.com\/news\/this-is-why-all-companies-should-buy-bitcoin-says-squares-cfo\/\",\"name\":\"This is why all companies should buy Bitcoin, says Square's CFO\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/this-is-why-all-companies-should-buy-bitcoin-says-squares-cfo\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/this-is-why-all-companies-should-buy-bitcoin-says-squares-cfo\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/Bitcoin-BTC29.jpg?fit=1070%2C714\",\"datePublished\":\"2021-03-29T19:55:49+00:00\",\"dateModified\":\"2021-03-29T19:58:34+00:00\",\"description\":\"In an interview for Fortune, Square CFO Amrita Ahuja made the corporate case for Bitcoin adoption. 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Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/uniquehot.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"This is why all companies should buy Bitcoin, says Square&#8217;s CFO","url":"http:\/\/uniquehot.com\/news\/this-is-why-all-companies-should-buy-bitcoin-says-squares-cfo\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/this-is-why-all-companies-should-buy-bitcoin-says-squares-cfo\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/Bitcoin-BTC29.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/Bitcoin-BTC29.jpg?fit=1070%2C714"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd"],"dateCreated":"2021-03-29T19:55:49Z","datePublished":"2021-03-29T19:55:49Z","dateModified":"2021-03-29T19:58:34Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"This is why all companies should buy Bitcoin, says Square&#8217;s CFO\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/this-is-why-all-companies-should-buy-bitcoin-says-squares-cfo\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/this-is-why-all-companies-should-buy-bitcoin-says-squares-cfo\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/Bitcoin-BTC29.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/Bitcoin-BTC29.jpg?fit=1070%2C714\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\"],\"dateCreated\":\"2021-03-29T19:55:49Z\",\"datePublished\":\"2021-03-29T19:55:49Z\",\"dateModified\":\"2021-03-29T19:58:34Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/Bitcoin-BTC29.jpg?fit=1070%2C714","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/459882"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=459882"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/459882\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/459883"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=459882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=459882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=459882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}