JPMorgan Calls Square’s $50M Bitcoin Investment ‘Strong Vote of Confidence’ for the Cryptocurrency

JPMorgan Calls Square’s $50M Bitcoin Investment ‘Strong Vote of Confidence’ for the Cryptocurrency
JP Morgan Chase's corporate headquarters
(Getty Images)

Square’s recently announced $50 million investment in bitcoin (BTC) is a “strong vote of confidence for the future of bitcoin” and a signal the payments company sees “a lot of potential” for the cryptocurrency as an asset, JPMorgan analysts said in a report dated Tuesday.

Tim Draper’s Draper Goren Holm Raises $25M for Blockchain Venture Fund

Previous

Coinbase Chief Compliance Officer Departs Amid Wider Exodus

Next

More