Wall Street's new bitcoin play: Square rises after saying it's testing support of the cryptocurrency
Jack Dorsey's payments company is testing support for bitcoin through its Cash payments app.
"We believe it could place SQ in an early-mover position as a mainstream fin-tech company providing crypto-currency services," Credit Suisse research analysts Paul Condra and Mrinalini Bhutoria say.
"We believe PayPal (PYPL) is also well positioned to provide such services," the analysts say.