Square generated $1.82 billion in Bitcoin revenue during the third quarter of 2021.
Square’s payment application, Cash App was responsible for the revenue generation as the total revenue generated for the nine months now stands at $8.05 billion.
Square’s Bitcoin revenue accounted for 47.22% of the total revenue generated in the third quarter while it also accounted for approximately 60% of the total revenue generated in the 9 months of 2021.
Looking at its YoY performance, for the third quarter, its Bitcoin revenue grew by 11.13% while on its total nine months performance, its Bitcoin revenue is up over 185%.
Square’s Cash App allows users in the United States and the United Kingdom to buy Bitcoin and transfer money and BTC peer-to-peer. According to AppBrain, it currently ranks second in finance app downloads on the U.S. Google PlayStore behind Crypto.com.
Square’s total net revenue for the third quarter stood at 3.85 billion, up 26.73% when compared to the third quarter of 2020. Its nine months performance shows total net revenue of $13.6 billion, up by over 114% when compared to the nine months of 2020
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