(Reuters) – Payments firm Square Inc said on Tuesday it had purchased about 3,318 bitcoins for $170 million. (https://squ.re/3bzMZYU)
Institutional interest in the cryptocurrency has vaulted it towards the mainstream. Tesla Inc and Bank of NY Mellon Corp are some companies that have backed bitcoin recently.
Square, led by Twitter boss Jack Dorsey, said revenue in the fourth quarter more than doubled to $3.16 billion, helped by a jump in online payments due to the COVID-19 pandemic.
(Reporting by Niket Nishant in Bengaluru; Editing by Maju Samuel)
