Square stock grow in value with the popularity of app company
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The Company Square created by one of the founders of Twitter, is rapidly expanding impact on the stock market. Despite the decline of public interest in cryptocurrencies, the app Square Cash is breaking all records for downloads. About it writes .
thethe Fall of Bitcoin is not a hindrance to the company
Over the past six months the main cryptocurrency has lost almost 75 percent of its maximum value in December 2017. Many experts predicted a direct relationship between cryptocurrency and Bitcoin. Fortunately, nothing of the sort happened. Square at all well even in a bear market.
Recall, the company was founded by Jack Dorsey, who at one time took an active part in the development of Twitter. In January, Dorsey has released the app to trade crypt of Square Cash. For the first quarter of 2018 through the trading platform I bought a few thousand bitcoins in the amount of 34.1 million dollars.
According to experts a brokerage firm Instinet Nomura, Square managed «separated» from the price movements of Bitcoin. The researchers also noted that the Cash app a similar service called Venmo from PayPal almost three times. All this happened in less than a year.
Most Likely, an important role in the growing popularity of Square Cash has been played by the decision of the Department of financial services of new York, which the company a license to formal financial activity in the city. The service has a Coinbase number of downloads. Not surprising, since Coinbase can take up to four percent on each transaction, whereas in Square Cash, the fee is closer to zero.
The success of the Square were a pleasant surprise even for traders in traditional markets. The company's shares rose by 154 per cent over the past 12 months. It is noteworthy that the client base of the service increases with the same mind-boggling speed. Left to pick up the pace and course of cryptocurrency.
Square Stock grow in value with the popularity of app companies appeared first on Two Bitcoin.
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