Square, Inc. buys $ 50 million worth of Bitcoin.

After MicroStrategy, which had acquired 38,250 bitcoins between August and September, the electronic payment company Square, founded by Jack Dorsay, today announced that it has purchased around 4,709 bitcoins, for an amount of $50 million.

Square believes that bitcoin has the potential to become a go-to currency in the future in all forms of its use as seen today. Amrita Ahuja, chief financial officer of Square said, "The company develops products betting on a more inclusive future, which investment is a step in this journey."