CashApp Now Available to 13 and Above: Will Teens Soon Be Able to Buy Bitcoin?
Jack Dorsey – CEO of Square – recently announced that CashApp would be available to anyone 13 years and older. Notably, CashApp offers users the opportunity to easily purchase Bitcoin alongside stocks. This may mean that, in the near future, teenagers could start purchasing BTC.
Bitcoin for Teens?
The CEO revealed the news for teens in a tweet earlier today. He provided a link to CashApp’s site, which now states that “Everyone 13+” can send, receive, and manage their money securely.
CashApp – developed by Square – is not a bank but simply an app for conveniently sending and receiving money. However, the app has evolved to include interactivity with other payment apps and to allow users to purchase stocks and Bitcoin. To function, CashApp needs only to be connected to an existing bank account.
Knowing this, MicroStrategy CEO Michael Saylor asked Dorsey whether this meant that teens could purchase BTC using CashApp. Saylor is one of the world’s most invested Bitcoiners, with a company owning over $7 billion worth of the asset. He personally holds another $1 billion. Therefore, an entirely new demographic of people entering the market could help his pocketbook.
Dorsey’s response was somewhat sobering, though:
Not yet…— jack⚡️ (@jack) November 3, 2021
Indeed, the link Jack Dorsey provided made no mention of Bitcoin purchases, though it did confirm teenagers’ access to other financial services. This is expected, as most exchanges, including Coinbase and CryptoCom, require digital asset buyers to be 18 years old.
That said, the CEO’s answer still leaves room for the future. Saylor seemed satisfied as well, saying that this would give teens “one more thing to look forward to.”
Jack Dorsey’s Bitcoin Endeavors
If there’s anybody that could find a way to put Bitcoin within a teenager’s grasp, it’s Jack Dorsey. The Twitter and Square CEO has already launched multiple major efforts to expand access to Bitcoin as he has been a well-known proponent for years.
One of his most recent pro-BTC initiatives includes allowing US Twitter users to tip each other using the primary cryptocurrency. Furthermore, his other company Square is considering the development of a global Bitcoin mining system after allocating millions of dollars in the asset.
Featured Image Courtesy of VOXSource