Square (SQ), Bitcoin (BTCUSD)
Square is buzzing alongside other crypto-involved names. This makes sense.
After all, SQ holds a significant volume of Bitcoin on its balance sheet and has enabled consumers to buy and sell the cryptocurrency on its Cash App platform since early 2018.
And take a look at Bitcoin mentions in the past week…
Now, take a look at mentions of SQ (including mentions of Cash App, Weebly, and Square’s business payment system).
Square mentions increased +131% YoY in the past month.
So…what do we do with this info?
One perspective: Bitcoin may open the door, but new users are likely to pick up other services in Square’s ecosystem.
On Square’s last earnings call, the company noted:
“Customers who adopted two or more products were highly engaged: during the third quarter, these customers had 3-4x more transactions and generated 3-4x more gross profit compared to customers who only used peer-to-peer payments.”
Andy talked about this today on the TD Ameritrade Network.
Roku (ROKU)
Today $ROKU confirmed it acquired exclusive rights to Quibi’s content library.
This places 75+ premium shows and documentaries on the Roku Channel, Roku’s free-to-view, ad-supported content channel.
LikeFolio data shows…
