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Holy smokers guys we got some huge news today in regards to square stock and in regards to bitcoin and then possibly coming together and making some moves together here guys so square stock is a stock i get asked about so much guys because this is one of the hottest stocks in the entire market okay this is this company yeah i mean they do a few different things but

Their main business is basically payment processing so if you go to your starbucks you you’re they’re gonna be using square systems they’re square registers a lot of small businesses use actually square software for my real estate marketing company i use square so basically picture i’m out on a job but customer wants to pay me a realtor wants to pay me for pictures

Or videos or whatever i’m doing for them right i just swipe their card right on my phone or i enter in the numbers and it goes right through and it goes into my bank account right away and square makes a little payment fee off of that guys and that’s basically how square it makes the majority of their money right bitcoin as you may or may not know is the world’s

Biggest cryptocurrency all right so that’s been about as hot as hot gets now with bitcoin in crypto currencies in general but bitcoin is the main one in here let’s not fool ourselves right the the main part of bitcoin becoming a wider spread adoption type thing and more and more people being interested in possibly investing in bitcoin those kinds of things pays it

Has to be even more legit okay so what does that mean that means more and more companies using bitcoin accepting bitcoin allowing bitcoin to trade on their platforms things like that guys because when when the big companies start to back something right then it becomes a safer play i guess you could say at that point because people feel like well this big ceo of

This company he’s over here he’s allowing this to go through so therefore it you know why am i to think this is a scam or anything like that whoo this isn’t gonna work out so that’s kind of the whole big thing with bitcoin is it’s got to be more legit as far as people adopting it in in big companies using it and whatnot so we see here today square has made a big

Move here so jack dorsey’s company is testing support for bitcoin through its cash payments app works and this is quote from him we’re exploring how square can make this experience faster and easier and have role out this feature to a small number of cash app customers when square spokesperson said via email to cnbc we believe cryptocurrency can greatly impact


The ability to individuals to participate in the global financial system and we’re excited to learn more here the test does not allow individuals or businesses to send or accept bitcoin okay guys so that’s an interesting point there that the the square person brings up that you know bitcoin is attracting new people into the the financial system and kind of getting

Involved with investing and kind of paying attention of stuff and i do certainly agree with that and that’s one of the reasons i want bitcoin to succeed you know although i’m not buying bitcoin personally i want to succeed just because if let’s say bitcoin and cryptocurrencies they fail and people lose massive amounts of money there’s gonna be massive amounts of kids

Out there and and when i say kids i just mean younger people in general right that are gonna get nailed on that right and then what happens at that point the majority of them will never invest or on their own again they’ll not be interested in that because most people out there are not meant to take a lot of a big loss right most people out there are just meant to

Try to make money in bitcoins attracting an insane amount of people because it’s easy money right now like like the amount we’re gonna look at bitcoin how much has gone up just in the past year it’s such easy money that’s attracting everybody because everybody wants to make easy money right if it’s so easy let’s just all make a bunch of easy money right so i want

Bitcoin to succeed i want cryptos to succeed but specifically bitcoin just because i don’t want to see everybody wiped out and then we lose a huge segment of the population that will never invest again because they got wiped out in bitcoin there’s gonna look at everything with a negative light oh that’s a scam that’s a scam because most people that they they’re

Not built to take losses like that they’re not built to come back so if we look here this is from a credit suisse analyst we believe it could play square in early mover position as mainstream fintech companies providing cryptocurrency services credit credit suisse analyst paul kandra and whatever that other person’s name wrote on wednesday squares well-positioned

To enable crypto transactions at the physical point of sale alright guys so if we looked here actually let’s read this buying and selling bitcoin has become big business coinbase to the leading us platform for such services has 12.5 million users and says on its website it exchanged more than 40 billion dollars worth of digital currency that means bitcoin at our

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Excuse me coin basis user base our user growth has more than doubled from 5.5 million in january according to an analysis of public data compiled by le star milli co-founder and chief exec investment officer there so unreal there guys if we look at the coin base user this has gone up dramatically over the last few years and then if we look at bitcoin price today

On this news it jumped up greatly pretty much on the back of the square news in my opinion to jump to almost 10 percent it was over a little under $66 6,600 and then it’s over 7,200 for part of the day today so if we look on the one year the one year chart here that this time last year bitcoin was at seven hundred and forty-nine dollars now it’s well over seven

Thousand dollars guys we’re talking about almost a tenfold now if we look this square stock here square stock it’s just in the past ten days or excuse me the past five days has jumped ten percents and then if we look year-to-date he’s jumped almost 200 percent year-to-date okay and squares one of those companies that you know i was almost gonna invest in it and i

Didn’t and i just regret it because it was in the this was like a year and a half ago square was a single-digit stock it was like eight dollars a share or something like that eight or nine dollars a share looked in the company and because i was using it for my business that’s what sparked the idea and for me to look into it and i didn’t mainly because of twitter

Twitter is this is stock that’s dropped over 50% here since they came public right twitter was a company led by who jack dorsey the same guy that leaved square so for that reason i was very skeptical is something i like to you know look at his house our management team done as a public company and when i looked into this company and i saw what jack dorsey i did

With twitter it just was not impressive at all i mean your since you came public your stocks down 51% that’s obviously very bad and so that kind of scared me away a lot from square because i was like maybe this is just gonna be another twitter situation he’s got a fumble the ball but he’s actually done very good job with square if we look at this company it’s got a

Forward p/e of almost 90 and for that reason i can’t touch this company cuz you guys know i love growth in square is certainly a growth company but at a 90 p/e that’s like against my religion man that’s just too much that’s too much too and of course they’re not even profitable this past year but 90 p/e on a four day success is way too much for me to pay guys but

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At the same time this is could become a story company where it has a lot of different things going for it right if it has the payment system and then it has a lot of cloud services and then it has this bitcoin it becomes kind of like a story play i like to call it which is kind of like an nvidia you know if you think about an nvidia stock and why nvidia stock has

Done so phenomenal because they’ve got pretty good results so you know a quarter after quarter for the last three years but also on top of that they’ve got a lot of stories around it it’s like well they got gaming over here but then they got you know this huge date this data center business there they’re selling into and they got artificial intelligence they got

Going on and driver this cars and all these things and so nvidia is like a story stock it’s not just that there have good results right now it’s that they got this story of why they’re gonna succeed even more in the future maybe squares kind of turning into one of those kinds of stocks there which is which is an interesting play for some of you guys are a little

Like to take a little bigger risk because and things like that guys but let me know in that comment section what you think about all this is it yeah i mean i i can’t look at this and say it’s anything but good news for bitcoin specifically other crypto currencies i’m not sure it’s good news for it because bitcoin seems it seems to just be the one that people are

Kind of going toward and you know so will it be good for these other crypto currencies that you know are coming out of nowhere i’m not convinced about that but it certainly is good news for bitcoin i would love to hear you guys opinion on that in the comment section are you thinking about buying square stock have you bought square stock i would love to hear from

You guys hit a thumbs up if you enjoyed today thank you for watching guys and have a great day

Transcribed from video
HUGE BITCOIN & SQUARE NEWS By Financial Education

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