If you're using Jack Dorsey to thank for it.a lot more often in the future, you may have
Square let merchants accept bitcoin in 2014 for payment of goods, but abandoned that plan after few consumers used bitcoin for that reason. Changing gears, Square in January launched a bitcoin buying and selling feature in its Cash app.
That change highlights bitcoin's many hurdles in becoming a more common payment option, with the cryptocurrency not widely accepted and many people instead opting to hold onto their bitcoins instead of spending them. But Dorsey's continued backing for cryptocurrencies gives the community building up digital money a well-known booster who may draw in more fans.
Square this month said it sold $34.1 million of bitcoin in the first quarter but had to spend $33.9 million to buy the digital currency, netting the company only $200,000 in revenue.
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