Square is now called Block, and in the thirteen years since launching, Jack Dorsey’s company has grown into a $50 billion-plus financial powerhouse.
Square's consumer facing business grew fast and organically. The Cash App now makes up roughly half of revenue for the company and was one of the biggest drivers of growth during the pandemic as Americans pivoted to digital banking.
Square started experimenting with cryptocurrency within the Cash App back in 2014, Dorsey said, and enabled online stores to accept cryptocurrency. Square saw few transactions, and it"didn't really go anywhere." Dorsey has been one of the most high-profile advocates of bitcoin, and often refers to it as the"native currency of the internet."
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