Bitcoin acceptance a strong catalyst for Square - Nomura Instinet
Despite of my negative opinion about current crypto currency technologies requiring too much energy to maintain the ledger, retailers of Square ($SQ) are increasingly willing to accept Bitcoin for payment. That makes Square a growth stock. I do expect the world is moving towards crypto with improving technologies in the future. My opinion is more about "overly done" in building the check and balance system to use every computer participated to maintain the ledger. While I am no expert about blockchain technologies and bitcoin, I believe that some kind of modification can evolve in the future. When that happen, the world of currency is going to have huge change!
I obviously don't have a cryptal ball about the outcome of the future. However, there is no harm for payment platform to embrace the crypto currency for payment transaction. It's the next step of technology that a payment process cannot ignore. What I am more careful with is to invest in Bitcoin as an appreciating currency. It's not a good thing for energy consumption in the world but if we put the environmental matter aside, all these crypto currencies in the world need some kind of channels to be utilised. Therefore it's good for a payment processor like Square to accept such form of payment.