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:
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
Even though the price is up, bitcoin’s node count is at a 3-year low
Polkadot lays out initial steps as launch approaches
The Libra Association has named a CEO in former HSBC chief legal officer Stuart Levy
Ohio lawmakers have proposed blockchain-based voting
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.