Square and Tik Tok Work to Make BTC Mainstream
Square is run by Twitter CEO Jack Dorsey, who has always been a huge advocate of BTC. In the past, Dorsey has stated that bitcoin could become the world’s “single” cryptocurrency, and in 2018, stated that this was likely to be the case within a period of ten years.
He has also commented that bitcoin is on the verge of becoming as “common as cash” payments, writing in a blog post not too long ago:
For bitcoin to become a widely used global currency – one that can’t be stopped, tampered with or rigged in anyone’s favor – improvements to bitcoin’s [user experience], security, privacy and scaling are required.
Dorsey has also stated that he will spend anywhere between three and six months in 2020 traveling throughout Africa and working to bring the power and properties of blockchain and BTC to the continent’s many peoples. At press time, it’s unclear when he’s planning to leave.
Square, itself, has its own cryptocurrency division called Square Crypto. Many young people find themselves more attracted to digital currencies than to standard stocks or government bonds, and Square is looking to take advantage of this by utilizing social platforms like Tik Tok to get more of them onboard.
Thus far, Square’s Cash app has made more than $150 million by utilizing Tik Tok in its latest influencer marketing campaign. The company is paying people big bucks to get the news that bitcoin and its altcoin cousins are here to stay regardless of the doubters that likely still exist.
Among the big names being utilized in the marketing campaign are artists like Shiggy, a musician who was recently hired to write a song called “Cash App.” The song played on Tik Tok for weeks, garnering as many as 136 million views and becoming one of the top trending videos on Twitter.
Square’s Cash App has become more popular than ever following its redesign last September that makes it easier to understand and use.
Other Companies Helping Out
Bitcoin appears to be edging its way towards mainstream territory through the likes of companies like Square. Other ventures joining the fight to make BTC legitimate include Samsung and Visa. The former company has recently announced that all its future 5G phones will come equipped with digital wallets that will allow users to store their cryptocurrencies on their phones – a prominent method of bringing digital newbies onboard.
In addition, Visa has recently authorized popular cryptocurrency exchange Coinbase to begin issuing digital currency-based debit cards with the Visa name on them, thereby allowing users to spend their digital cash at retailers across the globe.