10/8/2020, 3:18 PM (Source: TeleTrader)
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Square buys $50 million in bitcoin

Square announced on Thursday that it bought $50 million in bitcoin.

In a statement, the mobile payments company led by Twitter founder Jack Dorsey (pictured), added that it sees cryptocurrency as "an instrument of economic empowerment." Square went on to add that cryptocurrency helps increase inclusivity in the global monetary system, which is one of its own purposes.

The company's shares were 2.01% higher in premarket trading on Wall Street.

Breaking the News / VP