Amid Bitcoin Volatility, 60% of Square Merchants are Still Willing to Accept the Cryptocurrency. According to a recent study of 100 U.S. based merchants that use Square Inc.’s payment technology — a good majority surveyed are open to taking bitcoin as a form of payment.
Dumping USD for Bitcoin as a form of payment is quite interesting. It shows how popular bitcoin has become says an Expert.
Since Square launched the Cash App integration with bitcoin, a research survey was conducted by Nomura Instinet which showed that more than half of Square merchants who participated would take BTC rather than dollars.
“This result is surprising, especially amid bitcoin’s elevated volatility,” Nomura Instinet analyst Dan Dolev explained this week.
Just in case you don’t know, Since Adding Cryptocurrency Features, Square’s Public Shares has Rised by 49%.
Since Square started the bitcoin initiative, the company’s public shares have been selling like hot cakes. Square’s digital currency initiative that started in February of this year has pushed Square’s stock up over 49 percent.
What do you think about this new survey and it’s result? Drop your comments below and subscribe to our newsletter too.