Block: Bitcoin Set to Become a Bigger Factor
- Date: 09-Apr-2022
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Block: Bitcoin Set to Become a Bigger Factor
When Square changed its name to Block (SQ) toward the end of last year, few doubted the intentions behind the name change.
CEO Jack Dorsey has long been a big bitcoin proponent and since late 2017, the company has allowed users to buy, sell, and hold bitcoin. Block views bitcoin as a catalyst for broader financial inclusion, which it hopes to stimulate through increasing awareness and the development of commerce infrastructure.
As RBC’s Daniel Perlin says, “Block has positioned itself as a leader and a business, not just with exposure to the asset, but continually embedding bitcoin as a solution within its products.” So, the name change obviously signaled a “greater focus on developing the bitcoin ecosystem.”