Square Originated $254M in Loans in Q4, Nearly a Billion For the Year

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Square in San FranciscoSquare released its Q4 earnings on Tuesday, disclosing that the Square Capital division originated 57,000 loans for $254 million.That brings them to $957 million on the year.

Just before the earnings release, Square reported they had also bought $170 million worth of additional bitcoin. After purchasing $50 million in October, no wonder the firm doubled down. Reportedly 48% of Square’s total revenue in 2020 was from bitcoin and bitcoin trading. 85% of all value added in 2020 was bitcoin-related.

Overall, Square added $9 billion in net revenue in 2020. $4.5 billion of which was Bitcoin revenue.

Last modified: February 23, 2021
Kevin Travers

Kevin Travers was a Reporter at deBanked.

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