SO, Square bought some Bitcoin

and the real story isn’t an NYSE listed company with a market cap of some $80B took on a $50M Bitcoin position, rather they have formed the

Cryptocurrency Open Patent Alliance (COPA), a non-profit organization encouraging crypto innovation and briefly outlined plans for future expansion. Dorsey’s tweet announcing and discussing is good reading

More important than Square investing $50mm in #Bitcoin is sharing how we did it (so others can do the same): https://t.co/35ABYHuz4f

— jack (@jack) October 8, 2020

and some 12H after first tweeting continues to evolve. Square’s announcement is less than a five minute read, but is link heavy. The Tweet is a deep dive.

Comment: all good stuff, and I’m willing to be given how rapidly incumbents are scrambling (I’m looking at you Visa!) we’re going to see a flurry of imitative announcements, and soon. Disclaimer: I’m seriously long Bitcoin.