Andrew Left: Square’s Bitcoin activities are a distraction
Financial analyst from Citron Research has recently made a negative statement regarding the policy decisions of Square. As Andrew Left believes, the activities of this corporation in the crypto space do not matter and the corresponding statements are made to keep the attention of investors away from the primary business.
The primary business of Square is fiat payments, and as reported by business media, the shares of this company have fallen by six percent because of the bearish (pessimistic) report made by Thomson Reuters. Andrew Left has likely read this material.
The critical remarks of Citron Research analyst have appeared shortly after Square has published data on its digital currency activities. In short, the company has sold $34M of bitcoins, acquired $33.9M of it and made $200,000 of revenue as a result.
Jack Dorsey, leader of Square and one of the founders of Twitter, has been seen making extremely bullish (optimistic) statements about Bitcoin in the past. The price of Bitcoin makes $9248 at the press time, observers note that the price dip of the recent days did not last long.
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