Bitcoin & Cryptocurrency - Square (Block, Inc) introduces a Bitcoin wallet solution for local businesses [1] - The solution enables businesses to accept BTC payments with zero fees [1] - Industry sentiment is bullish regarding this development [1]

Cryptocurrency & Blockchain - A new Bitcoin wallet by @Jack is explained [1]

A new version of Eigenwallet (a Monero and Bitcoin wallet with native atomic swaps support) has been released!eigenwallet (@eigenwallet):We made a couple of minor improvements over the last two weeks.3.0.4 through 3.0.7 of eigenwallet were released.We thoroughly document all changes. Transparency is important when your software is managing millions in funds. https://t.co/TcOyMVStdX ...

Bitcoin wallet holding $44 million moves funds after 12 years https://t.co/oGMJ4BMXPg ...

BREAKING: Telegram’s Bitcoin and crypto wallet is now live for 87 million users across the U.S. https://t.co/dZ4zGgONtb ...

Core Viewpoint - SoFi Technologies is positioned as a stronger investment opportunity compared to Block, primarily due to its growth potential in the online banking sector and the challenges faced by Block in the payment technology space [2][13]. Company Overview - SoFi Technologies operates as an online bank, providing a range of services including checking and savings accounts, loans, credit cards, investing services, insurance, and travel planning, without any physical branches [4][10]. - Block, formerly known as Square, focuses on payment acceptance technology and has ventured into cryptocurrency, but faces stiff competition and market saturation [14][15]. Growth Potential - SoFi has experienced significant customer growth, increasing from over 1 million members in early 2020 to nearly 11 million by the end of Q1 2023, with expectations of continued growth and a revenue increase of around 25% for the full year [10][11]. - The global online banking market is projected to grow at an average annual rate of 40% through 2034, with North America being a key market for SoFi [11]. Financial Performance - Analysts maintain a strong buy rating for Block, despite its shares being down over 70% from their 2022 peak, with a consensus price target of $66.86, indicating potential for recovery [3]. - Block is expected to see only 4% sales growth this year, with a slight acceleration to 10% next year, which is considered modest compared to SoFi's growth trajectory [16]. Market Trends - A 2024 survey indicates that 22% of U.S. bank customers prefer using personal computers for banking, while 55% prefer mobile apps, highlighting a shift towards digital banking solutions that SoFi capitalizes on [7][8]. - The payment acceptance market is becoming increasingly crowded, with established players like PayPal and tech companies entering the space, which poses challenges for Block [15][20].