60% Of Square's Q1 Cash App Revenue Came From Bitcoin

And smashes record with $306M in BTC revenue

Happy humpday, Blockfolians

The Lede

Hot off the presses, Square has released its Q1 earning statements. Let’s not bury the lede:

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Square and Cash App continue to be one of the most important on-ramps for crypto. This record growth suggests that some combination of market volatility, the bitcoin halving, and unlimited Fed spending is attracting a new user base.

Go, Jack, Go!

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Highly Relevant Reading


Community Commentary

Messari analyst argues that this rally is real and strong
A great illustration of interest rates in historical terms

A Really Big Number We Should Be Paying Attention To

$2.4M

That’s the size of the PPP loan that Tron seems to have gotten from the US government. The crypto community is….not enthused.


Final Thought

Seriously, though.