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

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


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.