Square Could Be a Game Changer for Bitcoin

Payment-processing solutions company Square (NYSE: SQ) is testing support for bitcoin through its Square Cash app. Although this is currently just a small-scale test, it could have major long-term effects on Square, as well as bitcoin. The news sent Square's stock up about 2% to a new all-time high, and also gave the price of bitcoin a nice boost.

A Square spokesperson said in a statement:

"We're always listening to our customers and we've found that they are interested in using the Cash app to buy bitcoin. We're exploring how Square can make this experience faster and easier, and have rolled out this feature to a small number of Cash app customers. We believe cryptocurrency can greatly impact the ability of individuals to participate in the global financial system and we're excited to learn more here."

Source: Fool.com