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Square's Cash App Bitcoin profits fall 23% — Will opening it to teenagers help?
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Jack Dorsey’s payments company Square Inc. revealed in its Q3 earnings report that mobile payments app Cash App saw a 23% drop in quarterly profits generated by Bitcoin.
But Bitcoin profits and revenue are both up year on year.
Square attributes the drop off in quarter-on-quarter Bitcoin revenue and gross profit to the “relative stability of the price of Bitcoin, which affected trading activity compared to prior quarters.”
Cash App allows users in the United States and the UK to buy Bitcoin and
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