Square earnings have increased considerably since they adopted Bitcoin as a method of payment. An analyst from Nomura Instinet, Dan Dolev, believes that this increase will go even higher. Nomura Instinet raised its Square target price to $65 USD.

BITCOIN MAKES SQUARE  PROFITABLE

Dan Dolev forecasts a “sizable boost” to Square’s incomes and profits in the first quarter, thanks to Square having added Bitcoin trading features on its payment app.

Dolev estimates that Square could generate $125 a year in income from each user who trades Bitcoin on the Square Cash app. CNBC reports:

That move could drive a ‘sizable boost’ to the tech company’s revenue and profits this quarter and a 10 percent potential upside to adjusted EBITDA guidance.

According to the chart below, Square’s stock performance(SQ) has increased a lot. Its value has increased over 180 percent in past 12 months:

Square agreed to its clients’ demand by providing Bitcoin trading capabilities to its Cash App. Regarding this, the company says:

Customers can now buy and sell Bitcoin in Cash App. We observed that this was a feature our customers wanted, and we support Bitcoin because we see it as a step in the long-term path toward greater financial access for all.

BITCOIN WILL BE THE SINGLE CURRENCY IN THE WORLD

Jack Dorsey is the CEO of both Square and Twitter. He kept his faith regarding Bitcoin to become the only currency for payment. According to The Times, Jack Dorsey declared:

Bitcoin will overtake the dollar in importance as it becomes the single global currency of the internet within a decade.

Indeed, the company has been successfully using Bitcoin to gain a competitive advantage over its competitors in their ruthless war for supremacy in the mobile payment industry space.

Specifically, Square’s stock price surpasses by far its peers in the digital payment industry, such as Paypal, WorldPay Inc., Global Payments Inc., and First Data Corporation, as shown in the chart below:

Bitcoin-friendly companies, as Nvidia and Square continue to impress the markets. Due to fact that some companies accept Bitcoin, highlights the profits that make these companies. Finally, the companies took into account the method of Bitcoin as payment.