Twitter CEO, Jack Dorsey Now Buys $10K Of BTC A Week

Twitter CEO, Jack Dorsey Now Buys $10K Of BTC A Week

Jack Dorsey, Twitter CEO stated on a recent podcast that he is maxing out the limits on the Square Cash App and purchasing $10,000 dollars of Bitcoin a week.

If the Twitter CEO wants to buy more Bitcoin, we suggest he turn to Coinbase. Buy and sell limits are much higher.

On Coinbase regular users can purchase $25,000 a week. Verified users can purchase $25,000 a day. But once the funds are in your Coinbase wallet, there are no buy or sell limits.

What Jack Dorsey, Twitter CEO is likely doing is simply a dollar cost average strategy. Dollar cost averaging (DCA) is an investment strategy where a large purchase of a financial asset like an equity or cryptocurrency is spread out over time with the goal of reducing the impact of volatility.

From newsbtc.com:

“In a surprising turn in the conversation, he explained that he purchased $10,000 worth of Bitcoin, which currently amounts to 2.7 BTC, over recent weeks, and could do the same again in the following. Doing some napkin math, this works out to around $520,000 in cryptocurrency purchases a year (considering he doesn’t go over that amount or purchase any other digital assets) — or about 0.0928% of his $5.6 billion net worth. Although this isn’t a relatively large amount percentage-wise, it shows that Dorsey is looking to accumulate for the long haul, as he dollar-cost averages in.”

Twitter CEO, Jack Dorsey Discusses Bitcoin On The Joe Rogan Podcast:

Are you ready for the next crypto bull run? Many investors are using strategies like dollar cost averaging to build a diversified portfolio in preparation for the next major price movement. Stay tuned to the Bitcoinshirtz blog for the latest news from the Bitcoin and blockchain industry. 👍

Square Cash Has A Beautiful Landing Page But Fails To Provide Real Bitcoin Services

Square Cash Has A Beautiful Landing Page But Fails To Provide Real Bitcoin Services

Square Cash, also known as “Cash” or Square, Inc. has recently added Bitcoin investing to their list of services.  Square Cash allows users to transfer money using a phone app. The platform now boasts over 7 million users, as of 2018.

Why Square Cash Fails To Provide Real Bitcoin Services

With their new found interest in Bitcoin and blockchain technology, Square, Inc. is now allowing users to purchase and hold Bitcoin in their app. The catch is, they hold the blockchain asset, not you. We explored their new service offering and were completely let down. It turns out you can’t send or receive Bitcoin from the Square app. There are no bitcoin addresses to be seen. Bitcoin and blockchain are all about transparency and the Square Cash app gives users the opposite. They tell you that you now hold Bitcoin in the app but how do you know? You simply can’t verify the information. We doubt they are lying about any of the info displayed, but how would you know otherwise?

If Square Cash wants acceptance from Bitcoin investors, they will have to update their app and make it more transparent. There needs to be proof of purchase on the Bitcoin blockchain. Verifiability is paramount in the blockchain space.

What we liked was their beautiful landing page and informative information about Bitcoin and it’s anonymous creator, Satoshi Nakamoto.

Check out some screenshots from https://cash.me/bitcoin :