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Square announced an additional Bitcoin (BTC) purchase of $170 million buying the dips after BTC price crashed sub $46K levels on Tuesday in a marketwide correction.
As Bitcoin (BTC) enters a steep correction on Tuesday, February 23, big corporates jump in to make the most of the buying opportunity. Seizing once such opportunity, Jack Dorsey-backed Square Inc announced its fresh $170 million Bitcoin purchase.
Also, the recent announcement comes as part of Square unveiling its Q4 2020 results. The Square Cash App is quite popular among crypto investors and offers quite an intuitive interface to trade crypto. It turns out that more than 3 million customers trade Bitcoin last year in 2020. Also, over 1 million customers purchased Bitcoin (BTC) for the first time last month in January 2021.