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HomeNewsBitcoin Is Responsible For Half of Cash App’s 4th Quarter Revenue

Bitcoin Is Responsible For Half of Cash App’s 4th Quarter Revenue

The company recently published a newsletter. In the report, Square says that between Nov. 1 and Dec. 31 alone, Bitcoin pulled a total of $178 million in revenue for the company. Of that amount, its profit stood at $3 million which is a 50% growth from the second and third quarters. Per the report, all revenue from non-Bitcoin services pulled in a total of $183 million.

So far, Cash App has been very successful. At the moment, the app is the second most-used finance app and the 23rd most-used app overall on Android’s Google Play Store, according to recent statistics.

Last year, the head of Square’s Crypto division Steve Lee had announced a strong commitment to focusing on Bitcoin.

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