Bitcoin-Friendly Square Hits All-Time High Market Cap after Earning Bitlicense

Hey everyone. I just wanted to share some good crypto news out there. This post will be a quick breakdown of the article linked below.

https://www.ccn.com/bitcoin-friendly-square-hits-all-time-high-market-cap-after-earning-bitlicense/

Looks like Square's market valuation just went up 3% overnight after the company obtained the Bitlicense from the New York Department of Financial Services (NYDFS) to operate as a cryptocurrency platform. This is a big step forward to crypto currency gaining mainstream attention and usage. New York has historically been one of the strictest states when it comes to setting regulation and policy toward crytpocurrencies being used in business transactions. Three years ago (2015), Bitstamp tried to apply for the NY Bitlicense, and NY wanted to charge $100,000 USD. If I had to guess, I would assume that those charges a lot more money today in 2018.

This positive news raised the value of Square by more than $1 billion USD. Over the past month, the price of Square stock has gone from $54 to $66.2, a rise of 22%. This also means that if you live in NYC and have a Square account, you can now buy and sell bitcoin with fiat via their app. Very good news for believers in BTC. Hopefully, the good news keeps on coming, and people start investing in crytpos again. This has been a pretty rough bear market/correction. It will be nice to start seeing some green again. Good luck everyone and thanks for stopping by.