The CEO of Twitter and Square took to his Twitter account to announce vacancies for Square. The United States-based payment platform is looking to hire cryptocurrency engineers and is willing to pay them in the digital currency.
#BitcoinTwitter and #CryptoTwitter! Square is hiring 3-4 crypto engineers and 1 designer to work full-time on open source contributions to the bitcoin/crypto ecosystem. Work from anywhere, report directly to me, and we can even pay you in bitcoin! Introducing @SqCrypto. Why?
— jack ??? (@jack) March 20, 2019
Dorsey further commented in the same thread that this decision of paying employees u digital currency is “to make the broader crypto ecosystem better,” and to contribute to the Bitcoin (BTC) community. He also noted that this initiative is the first open source initiative independent from their business objectives as potentially hired engineers will entirely focus on “what’s best for the crypto community and individual economic empowerment, not on Square’s commercial interests.”
For 2018, Square registered $166 million in annual Bitcoin revenue, with over $52 million in Bitcoin sales for Q4. A considerable $9 million more than its Q3’s earning and Q2’s by more than $15 million. However, clear profit from the Bitcoin operations, which involve Square’s consumer app Cash, remained low, as purchasing costs account for the vast majority of revenue.
Last month, Dorsey, a known Bitcoin advocate reiterated that he believes Bitcoin to be the Internet’s native currency:
“[Bitcoin] was something that was born on the internet, that was developed on the internet, that was tested on the internet…It is of the internet.”