According to the new financial report from Square company, Bitcoin sales at Cash App continue growing – in the third quarter of this year BTC for $148 mln have been sold, BitcoinDoubler2x has found out.
When in the previous quarter bitcoin sales revenue made up $125,5 mln, in the 3rd quarter it increased by 20%. Compared to a similar period of the last year growth of BTC sales made up 245%. For the third quarter totally have been sold about 14 300 bitcoins at an average price of $10 300, however for previous quarters indicators have been better – about 17 250 BTC.
In September, Square changed design of Cash App taking into account popularity of Bitcoin and Cash Card. After release of new app`s version the number of BTC purchasers, who invest in crypto assets at the first time, has doubled. Besides, Square has started taking 1,75% fee for bitcoin buying at its Cash App.
“We increase the high board of our outlook for net profit for the whole 2019 by $110 mln due to business trends in Seller and Cash App, and also due to BTC sales growth in the 3rd quarter of this year”, – Square claimed.