Holy Mackerel, Bitcoin!

January 8, 2021

Square (SQ), Bitcoin (BTCUSD)

Square is buzzing alongside other crypto-involved names. This makes sense. After all, SQ holds a significant volume of Bitcoin on its balance sheet and has enabled consumers to buy and sell the cryptocurrency on its Cash App platform since early 2018.  And take a look at Bitcoin mentions in the past week...
Bitcoin Purchase Intent

Now, take a look at mentions of SQ (including mentions of Cash App, Weebly, and Square's business payment system).

Square mentions
Square mentions increased +131% YoY in the past month. So...what do we do with this info?  One perspective: Bitcoin may open the door, but new users are likely to pick up other services in Square's ecosystem. On Square's last earnings call, the company noted:  "Customers who adopted two or more products were highly engaged: during the third quarter, these customers had 3-4x more transactions and generated 3-4x more gross profit compared to customers who only used peer-to-peer payments." Andy talked about this today on the TD Ameritrade Network.

Roku (ROKU)

Today $ROKU confirmed it acquired exclusive rights to Quibi's content library.

This places 75+ premium shows and documentaries on the Roku Channel, Roku's free-to-view, ad-supported content channel.

LikeFolio data shows...

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