SQ vs PYPL in bitcoin

With Bitcoin booming, investors consider which companies will ride the bitcoin wave?

In the peer-to-peer payment sector, there are two clear leaders:

Square (SQ) and Paypal (PYPL)

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First, let's look at total mindshare across the two companies:

PYPL's lead is clear at 73 to 27.

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But now, let's look at at searches of "Bitcoin + _______". We will break it apart into the 4 brands owned by these two companies:

SQ owns Square and Cashapp

PYPL owns Paypal and Venmo

PYPL is at 66% between its two brands

SQ is at 34% between its two brands

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So while Square only has 27% of the mindshare across all users, with bitcoin users, it is 34%.

This tells us two things:

1) Bitcoin users are more likely to think about Paypal's offerings when looking for a bitcoin solution

but

2) Square is being considered at a rate 26% higher (34% vs 27%) amongst bitcoin users than general population users.

This tells us that Paypal has a raw numbers advantage, but Square will continue to cut into Paypal's lead as Bitcoin adoption re-enters the retail investor space. This is a huge opportunity for SQ.

We will keep you posted...