On Wednesday (July 14), Jack Dorsey, the CEO of micro blogging platform Twitter and payment service provider Square, revealed that Square is now sponsoring NASCAR driver Darrell “Bubba” Wallace Jr (aka “Bubba Wallace”).
Square was founded in February 2009, i.e. it is 11 years old, just like Bitcoin (BTC). The three co-founders are Jack Dorsey (who is also the company’s Chairman and CEO), Jim McKelvey, and Tristan O’Tierney.
Four years after the launch of Venmo, PayPal’s peer-to-peer (P2P) mobile payment solution, Square (whose founder and CEO is Jack Dorsey) launched a competitor called “Square Cash”, a beautiful, simple, and fun-to-use app, which got renamed to “Cash App” later.
Cash App, which is one of Square’s most popular products, allow a user to request money from and to transfer money to another user. Users can withdraw the money via a debit Visa card called “Cash Card” or by transferring it to a bank account.
Cash App started supporting buying and selling of Bitcoin (BTC) in mid November 2017 in a very limited rollout; the feature was officially launched in late January 2018.
Here is a tweet from Dorsey (who is a huge believer in Bitcoin) announcing the news on 31 January 2018:
Instant buying (and selling, if you don’t want to hodl) of Bitcoin is now available to most Cash App customers. We support Bitcoin because we see it as a long-term path towards greater financial access for all. This is a small step.
We also made this! https://t.co/z3u0liDNk4
— jack (@jack) January 31, 2018
According to Bloomberg, on 16 May 2018, Dorsey, who is also the CEO of Twitter, shared his belief in Bitcoin with a crowd of crypto enthusiasts at the Consensus 2018 conference in New York:
The internet deserves a native currency; it will have a native currency. I don’t know if it’ll be Bitcoin or no, but hope it will be.
It is worth noting that Square also has a crypto-focused division known “Square Crypto”—launched in March 2019—that operates separately from the rest of the company and its purpose is to support the development of Bitcoin and its ecosystem, as Square Crypto Product Manager Steve Lee explained on Twitter in July 2019:
Square Crypto is a separate organization from Cash App and the rest of Square. This is an open-source initiative designed to strengthen the bitcoin ecosystem. – Stevehttps://t.co/V2MjUKWwht
— Square Crypto (@sqcrypto) July 29, 2019
Our goal is Bitcoin for all. We are focusing on improving the Bitcoin experience for mainstream users. The user journey will always be central to our thinking. – Steve https://t.co/yxHcOOKYkl
— Square Crypto (@sqcrypto) July 29, 2019
The NASCAR Cup Series is the top racing series of the National Association for Stock Car Auto Racing (NASCAR). Wallace, who happens to be the only Black driver in NASCAR and became famous recently due to the “noose” controversy, currently drives car No. 43 Chevrolet Camaro ZL1 1LE for Richard Petty Motorsports.
Well, yesterday, Bitcoin fan Dorsey, sent out the following tweets to show that Square’s Cash App is now sponsoring Wallace:
#bitcoin @BubbaWallace pic.twitter.com/tNSio3qnTz
— jack (@jack) July 14, 2020
— jack (@jack) July 15, 2020
Featured Image by “skeeze” via Pixabay.com
