By Allison Prang
Square Inc. said Tuesday it bought $170 million in the aggregate worth of bitcoin.
The payments company said it has bought about 3,318 bitcoins. This purchase is on top of the company's prior purchase of $50 million worth of the cryptocurrency.
Square said Tuesday that with both purchases, the cryptocurrency represents about 5% of the company's cash, cash equivalents and marketable securities as of the end of last year.
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(END) Dow Jones Newswires