Bitcoin-Friendly Square Cash App Stock Price up 56% in 2019

Cash App, the payments app of San Francisco-based company Square, announced a Bitcoin (BTC) giveaway in a tweet published on July 26 as its stock price continues to grow, according to MarketWatch.

Giving away Bitcoin

In its tweets, the official Cash App Twitter account announced that it will give away $50,000 in Bitcoin. In subsequent tweets, Cashapp also pointed out that the number of tweets grew first to 12,300, and then to 40,300.  

As Cointelegraph reported at the end of June, Square already enabled Bitcoin deposits to all of its Cash App users. Notably, Square’s founder Jack Dorsey — who is also the creator of Twitter — has been putting together a team dedicated to improving crypto infrastructure in general. 

Square is a growing company

Furthermore, Square’s (SQ) stock is up about 56% in 2019, having started the year at $57.2 and trading at $81.8 at press time, according to MarketWatch data. Bitcoin, on the other hand, increased its value by about 157% over the same period, according to Coin360.

Bitcoin price January 1, 2019 - July 27, 2019 | Source: Coin360

As Cointelegraph reported earlier today, the Bank of China, one of the four biggest commercial banks in the country, released on its website an infographic illustrating what is Bitcoin, how it works, and why it’s valuable.