Here’s our latest look at some of the companies in our portfolios that are making news and moves — and there are some real doozies!
Square
Square is a payments company based out of the United States.
The company recently announced it had bought US$170 million worth of Bitcoin, bringing its total holdings in the cryptocurrency to approximately 5% of its cash and cash equivalents.
Square is one of the first publicly traded companies to add Bitcoin to its balance sheet.
The company’s CEO, Jack Dorsey, who is also the CEO of Twitter, has long been a Bitcoin bull. He recently decided to sell his first ever Tweet via a non-fungible token (NFT), and will convert the proceeds to Bitcoin and donate them to charity.
PayPal
PayPal has announced it’s launching a buy now, pay later (BNPL) offering in Australia in June.
PayPal launched its BNPL service in America last year and already has ~45 million customers there, meaning local BNPL companies Afterpay and Zip have some stiff competition.
And given the company counts some of Australia’s biggest merchants as its clients — including The Iconic, Kogan, Qantas, and Telstra — it is likely to be a popular offering.
In separate PayPal news, the company has announced it’s acquiring Curv, a cryptocurrency startup based out of Israel. Last year, PayPal announced plans to allow users to make purchases with cryptocurrencies starting this year. Interestingly, PayPal’s biggest competition in the cryptocurrency space is likely Square’s Cash App.
The Spaceship Earth Portfolio invests in Square at the time of writing.
The Spaceship Universe Portfolio invests in Square and Zip Co at the time of writing.
The Spaceship Universe Portfolio and the Spaceship Origin Portfolio invest in PayPal and Afterpay at the time of writing.
Important! We’re sharing with you our thoughts on the companies in which Spaceship Voyager invests for your informational purposes only. We think it’s important (and interesting!) to let you know what’s happening with Spaceship Voyager’s investments. However, we are not making recommendations to buy or sell holdings in a specific company. Past performance isn’t a reliable indicator or guarantee of future performance.
