Square CEO Jack Dorsey recently announced that CashApp will be available to anyone aged 13 and over. CashApp allows users to purchase Bitcoin and stocks with ease. This could mean that teenagers may soon be able to purchase Bitcoin.
Bitcoin for Teens
In a tweet, the CEO announced the news to teens earlier today. He linked to CashApp’s website, where he stated that anyone 13+ can now send, receive and manage their money safely.
Square created CashApp, which is a mobile app that allows users to send and receive money. The app now allows users to buy stocks and bitcoin, and interactivity with other payment applications. CashApp can only function if it is connected to an existing bank account.
MicroStrategy CEO Michael Saylor inquired if this meant teens could buy Bitcoin using CashApp. Saylor, who owns more than $7 billion in Bitcoin assets, is one of the most invested Bitcoiners. Another $1 billion is his personal holdings. His pocketbook could be helped by a new market segment.
Dorsey’s response was a bit sobering though:
But not yet…
(@jack), November 3, 2021
Although Jack Dorsey’s link did not mention Bitcoin purchases, it confirmed teenagers’ access other financial services. This is normal, since most digital asset buyers must be 18 years of age to use the Coinbase and CryptoCom exchanges.
Despite this, the CEO’s answer leaves plenty of room for the future. Saylor was also satisfied, stating that this would give teens another thing to look forward too.
Jack Dorsey’s Bitcoin Endeavors
Jack Dorsey is the man who could help teenagers get Bitcoin. As a long-standing proponent of Bitcoin, the Square CEO and Twitter CEO Jack Dorsey has launched numerous major initiatives to increase access to Bitcoin.
His most recent pro-BTC initiative is to allow US Twitter users tip each other using the primary currency. After investing millions in the asset, Square is also considering developing a global Bitcoin mining network.
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Marla Brooks – Financial Analysis
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