Square just added 4,709 Bitcoin to it's balance sheet.
Square, Inc. is an American financial services, merchant services aggregators, and mobile payment company based in San Francisco, Calufornia. The company markets software and hardware payments products and has expanded into small business services. The company was founded in 2009 by Jack Dorsey and Jim McKelvey and launched its first app and service in 2010. It has been traded as a public company on the New York Stock Exchange since November 2015 with the ticker symbol SQ. It holds a massive 81 billion in capitalization.
Jack Patrick Dorsey (born November 19, 1976) is an American technology enterprenuer and philantrophist who is the co-founder and CEO of Twitter, and the founder and CEO of Square, a financial payment company. He is a long term proponent of Bitcoin and crypto.
Jim McKelvey is an American technology entrepreneur, businessperson and philanthropist who is the co-founder of Square. McKelvey was appointed as an Independent Director of the St. Louis Federal Reserve in January 2017. As of September 2020, McKelvey is ranked by Forbes as the 378th richest person in America.
The acquisition of 4,709 Bitcoin (BTC) is worth roughly 50 million at the time of publication. The company's CashApp allows it's users to invest in Bitcoins.
As to the press release of the certain move, it was ideological according to them quoted saying:
Square believe that crypto currency is an instrument of economic empowerment and provides a way for the world to participate in a global monetary sytem, which aligns with the company's purpose".
Cointelegraph: Bitcoin News