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Jack Dorsey’s Square grows amidst BitLicense obtaining

According to Bloomberg, Square Inc. shares are now growing thanks to the initiatives of this financial payments enterprise towards Bitcoin trading.

18-04-2018 21:00:00  |   Regulation

Recently, Square has obtained a BitLicense from the New York state authorities – this is usually quite an obstacle for digital currency companies that they criticize since the day this registration procedure was born. Kraken, a cryptocurrency exchange, has even left this American state several years ago in order not to bother with it.

As for the Square leadership, Jack Dorsey has been seen extremely optimistic about Bitcoin this year, although Citron Research economist Andrew Left is certain that cryptocurrency activities of this company were nothing more than a distraction from the status of the primary business.

From the beginning of this year, Square is growing astonishing +80%, as the aforementioned media outlet notes. This partly resembles the positive dynamics of Ripple which eventually proved to be finite.

Jack Dorsey’s words about the Internet cryptocurrency have provoked a public discussion of the matter. While Steve Wozniak wants Bitcoin to become this financial tool just as the CEO of Twitter does, he doubts this could happen. Adena Friedman (NASDAQ head) stated that no current digital currency could become Internet money, while not excluding the future emergence of this means of payment.

Image: Simon Jacobs

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