Square Originated $254M in Loans in Q4, Nearly a Billion For the Year
Square 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 was a Reporter at deBanked.