It appears that Jack Dorsey is once again winning at his own game. Dorsey, who owns both Twitter and Square, has often had his companies compared to one another in terms of market value. Twitter was usually the one to lead, but the popular social media network has lost to the mobile and merchant payment app.
The popularity of mobile payment apps has often been tied to the popularity of cryptocurrencies. After digital assets skyrocketed back in late 2017, people took notice. Soon enough, paid app downloads started growing as well, and Square was no exception. Even after Bitcoin and other digital currencies experienced a price drop in January 2018, mobile payment apps did not lose their popularity.