The millennials have spoken!
Square's Cash App has become the number 1 downloaded finance app in Google's play store.
A spot that has long belonged to Paypal.
It also finds itself ranked number 15 of the most downloaded apps overall.
Millennials seem to be the driving force behind this increase in downloads and usage.
Is bitcoin responsible for the spike?
It's very possible.
The Cash App was recently in 3rd place behind both Venmo and Paypal in the finance category.
Then in August of this year, Cash App announced that they had enabled buying and selling of bitcoin in all 50 US states.
What happened next?
Well, the Cash App went on to to become the most widely downloaded app in all of finance, even besting long standing stalwart, Paypal.
Good news for Square and crypto?
The popularity of Square's Cash App has helped propel the companies stock price to new all time highs.
In fact the market cap passed that of Twitter this year for the first time ever, the other company currently run by CEO Jack Dorsey.
There are rumors that Square will soon build a cryptocurrency exchange as they are one of the few companies that have received the much soft after New York BitLicense.
Either way, users of the Cash App are helping bitcoin gain adoption and plug holes in the financial ecosystem currently left by legacy financial systems.
Stay informed my friends.
Image Source:
https://www.ccn.com/bitcoin-friendly-cash-app-tops-paypal-in-google-play-store/
Follow me: @jrcornel