Square jumps on news that most of its users can now trade in bitcoin (SQ)

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Square IPO Jack Dorsey

  • Shares of payment services company, Square, jumped on news that its Cash App will now allow some of its users to trade bitcoin on its platform.
  • Square’s stock rose 3.08% at $46.92 per share on Wednesday.
  • The company’s CEO Jack Dorsey made the announcement on Twitter, saying the move was made in a bid to move toward “greater financial access for all.”
  • Bitcoin trading does not extend to users located in New York, Georgia, Wyoming or Hawaii.
  • Square allows its users to buy up to $10,000 worth of Bitcoin per week.
  • The company said it does not charge a fee for Bitcoin transactions.
  • The price it sells Bitcoin for is based on the average price across other major exchanges.
  • View Square’s stock move in real-time here.

Read more about how Twitter is faring after an unconfirmed rumor of a Salesforce takeover.

Square stock price

SEE ALSO: Twitter spikes after unconfirmed Salesforce takeover rumor

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