Square Q1 bitcoin sales topped a record $65 million, despite yearly lows in bitcoin price
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#Stackingsats has worked its way into the data as Square posted a record $65.5 million in quarterly bitcoin sales for the first quarter of 2019, almost double Q1 volumes from 2018.
According to analysis by The Block, assuming the average daily price of bitcoin in Q1, that translates to over 17,000 in underlying bitcoin volume, up more than 70% since Q4 and 5x volumes from a year ago.
AUTHOR
Ryan Todd is a research analyst at The Block where he focuses on the convergence of fintech and digital assets. Previously he worked at Deutsche Bank as an equity analyst covering consumer finance and payments companies, and also spent time at ConsenSys exploring the broader Ethereum ecosystem. Ryan holds a BS in Economics and Accounting/Finance from Florida State University, and MS Finance from Vanderbilt University.
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