Square’s Cash App Debuts Automatic Recurring Bitcoin Purchases

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In Brief
  • Jack Dorsey has unveiled a new Cash App feature that supports automatic recurring Bitcoin purchases.

  • Users can now automatically buy BTC daily, weekly or bi-weekly.

  • Dorsey continues to max out his weekly BTC buys on Cash App.

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Automatic recurring Bitcoin (BTC) buying is now possible on Square’s Cash App via a new feature added to the platform.

Tweeting on Monday, Square and Twitter CEO Jack Dorsey revealed that Cash App users can now set their Bitcoin buying frequency according to daily, weekly, or bi-weekly schedules with a $10 minimum across all three levels.

Source: Twitter

Another feature allows Cash App users to change their displays from BTC to Satoshis (sats). One BTC is equivalent to 100 million sats.

The new feature on Cash App comes amid steady growth in Bitcoin “hodling” as seen in the rising number of addresses with at least 0.1 BTC. Even ‘wholecoiners’ (addresses with at least 1 BTC) and whale wallets also appear to be increasing.

Dorsey himself is a consistent Bitcoin buyer. Earlier in May, the Twitter CEO confirmed that he was still maxing out his weekly BTC buys via Cash App, as the platform has a $10,000 weekly Bitcoin purchase limit.

As previously reported by BeInCrypto, Cash App raked in $306 million in Bitcoin sales for Square in Q1 2020.

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Osato is a reporter at BeInCrypto and Bitcoin believer based in Lagos, Nigeria. When not immersed in the daily happenings in the crypto scene, he can be found watching historical documentaries or trying to beat his Scrabble high score.

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