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Square's Cash App Bitcoin profits fall 23% — Will opening it to teenagers help?
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cointelegraph.comJack Dorsey’s payments company Square Inc. revealed in its Q3 earnings report that mobile payments app Cash App saw a 23% drop in quarterly profits generated by Bitcoin.
But Bitcoin profits and revenue are both up year on year.
Square attributes the drop off in quarter-on-quarter Bitcoin revenue and gross profit to the “relative stability of the price of Bitcoin, which affected trading activity compared to prior quarters.”
Cash App allows users in the United States and the UK to buy Bitcoin and transfer money and BTC peer to peer. According to AppBrain it currently ranks second in finance app installs on the U.S. Google Play Store behind top-ranked crypto.com.
Bitcoin saw much less volatility in Q3 than Q2 after the price dropped from a
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