At Current Rates, Cash App To Buy 16% of New BTC Supply After Halving

Square’s mobile payments application Cash App will be buying 16% of Bitcoin’s (BTC) new supply if the company keeps buying at the same rate after the halfing if the price does not go up.

Twitter account dedicated to Rhythm pointed out in a tweet from Nov. 7 that the company’s Bitcoin buying rate will account for 16% of the total new Bitcoin per quarter after the block reward halving. The event will see the amount of Bitcoin created with each new block cut in half.

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