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Square's Cash App Generated $1.82 Billion of Bitcoin Revenue
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blockchain.newsThe well-known payment giant Square released its third-quarter financial report, showing that the mobile payment application Cash App under Square achieved $1.82 billion in Bitcoin revenue.
Square Cash App generated $1.82 billion in Bitcoin revenue and $42 million in Bitcoin gross profit in the third quarter of 2021, both increased 11% and 29% year-on-year.
The report stated that part of the year-on-year growth came from the surge in the price of Bitcoin.
The volatility of Bitcoin's price in the third quarter was much smaller than that of the previous quarter, which dropped from the previous all-time high (ATH) of nearly $63,000 to approximately $31,000 in the previous quarter. Most of the transaction prices are in the range of $30,000 to
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