Cash App to enable Bitcoin buy-and-sell function
Cash App, a very popular application for payments, turns on Bitcoin payments, although some states of America still won’t have access to this feature due to local legislation. Interestingly, Cash App is developed and updated by Square which is headed by Jack Dorsey, famous head of Twitter.
Jack Dorsey wrote his thoughts on the BTC payments launch on his Twitter account, which is, by the way, the first ever account on Twitter, with the popular “just setting up my twttr” message dating back to 2006.
just setting up my twttr
— jack (@jack) March 21, 2006
Instant buying (and selling, if you don’t want to hodl) of Bitcoin is now available to most Cash App customers. We support Bitcoin because we see it as a long-term path towards greater financial access for all. This is a small step.
— jack (@jack) January 31, 2018
We also made this! https://t.co/z3u0liDNk4
While Bitcoin is indeed used for payments, due to its high price, there is a huge part of the cryptocurrency community which decided to “hodl” assets for a long period of time. As seen from the tweet, Dorsey knows about those “hodlers” (the meme typo’s origin is the BitcoinTalk forum, a message from a drunken trader in 2013).
Stripe, a payment system not dissimilar to PayPal, recently decided to stop Bitcoin payments due to the volatility of this cryptocurrency, while also telling about some future more stable coins it might enable some day. Steam, a video game marketplace, has taken similar measures for the same reason, and the online shop of Microsoft recently paused Bitcoin payments, apparently to adapt the mechanics to new prices.