"hedge against inflation and economic uncertainty"
"You can say that I want 1% of my incoming revenue to be auto-converted to bitcoin, and you just let it sit there,"
"It will likely increase in value - it's certainly a hedge against everything that we're seeing in the economy."
"inherently deflationary"
Square launched a bitcoin wallet enabling US retailers to convert part of card revenue into bitcoin automatically and to accept bitcoin payments directly. Merchants can opt to auto-convert a chosen portion of daily takings now, and from 10 November can accept bitcoin and convert up to 50% of daily sales. There are no transaction fees until 1 January 2027, after which a 1% processing fee per bitcoin transaction will apply. The feature excludes New York due to stricter regulations and aims to position bitcoin as a hedge and alternative to traditional card networks.
Read at Business Matters
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