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Monday, May 27, 2024

Twitter CEO invests another $170 million in bitcoin

Square, which is owned by Twitter creator Jack Dorsey, announced the purchase of $ 170 million worth of bitcoins.

In the financial statements for the fourth quarter and 2020, she noted that, in conjunction with a previous investment in cryptocurrency of $ 50 million, she transferred 5% of her total reserves to a digital asset.

The company acquired another 3,318 bitcoins, according to a new report from Square.

The paper profits from Square’s $ 50 million purchase of bitcoins in October last year to date have exceeded $ 225 million.

The last investment of $ 170 million took place at the average bitcoin rate above $ 51 thousand.

Earlier, bitcoin rose in price by 23% after Tesla announced its investment in the cryptocurrency.

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The company told the US Securities and Exchange Commission (SEC) that it plans to buy bitcoin in the amount of $ 1.5 billion.

Later it became known that the Coinbase crypto exchange helped carry out the Tesla operation.

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