Cash APP’s Bitcoin revenue in the second quarter increased 6 times year-on-year to US$875 million

The payment platform Square founded by Twitter CEO Jack Dorsey pointed out that in the second quarter of 2020, the company achieved USD 875 million in Bitcoin revenue and USD 17 million in Bitcoin gross profit through its Cash APP service, an increase of 600% year-on-year respectively. And 711%. Square pointed out that Bitcoin revenue and gross profit benefited from the increase in Bitcoin activity and customer demand. Chain Wen previously reported that Cash App’s Bitcoin revenue in the first quarter of this year was US$306 million, of which gross profit reached nearly US$7 million.