Amrita Ahuja, Chief Investment Officer (CIO) at US payment service company Square, recently told Financial News that there are no plans to buy more bitcoins. This was reported by YouTube on the 14th (local time).
“At this time, we have no plans to purchase any more.”
The company, headed by Twitter founder Jack Doshi, as CEO, bought 4,709 BTC worth $50 million (approximately 56.47 billion won) in October. After that, in February, it bought an additional 3,318 BTC worth $170 million (approximately 1920 billion won).
Square Cash App achieved more than $3.5 billion in sales in the first quarter of this year, making it a box office success with bitcoin sales.
Ahuja also calls for wider adoption of green energy, arguing that Bitcoin’s carbon footprint needs to be addressed.
The issue surfaced after Tesla’s halting bitcoin payments regarding the bitcoin payments that hit the market earlier this week.
Last month, Square and ArcInvest published a white paper showing how Bitcoin can promote renewable energy.
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Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.