Bitcoin Conversions will charge a flat 1% fee to automatically convert a portion of merchant revenues into BTC. Jack Dorsey’s fintech company Block (SQ), formerly known as Square, is linking together two of its biggest platforms, merchant services system Square and peer-to-peer payments app Cash App, to give retail stores the ability to automatically convert a portion of their daily sales into bitcoin (BTC), according to an announcement on Wednesday. The tool, called Bitcoin Conversions, will set eligible Square users up with a dedicated Cash App account programmed to receive 1% to 10% of their store’s revenues, which will then be converted on their behalf into BTC, which can then be held, sold or transferred “as they see fit.” The service will be limited to sole proprietors or sin
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