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Trading venues are a sector of the bitcoin industry that has been making serious money regardless of which direction the markets went. This has made more companies interested in joining the bandwagon and offer stock investors contact to the bitcoin environment. And it appears to have worked in Square’s favor.

Square Inc (NYSE: SQ), the developer of mobile payment platform Square Cash, has experienced a surge of around 5% on Wednesday. The increase was largely due to a note by Nomura Instinet analyst Dan Dolev, predicted that there would be very positive effects when the company added bitcoin trading before its May 2nd first-quarter earnings report.

Earlier this year, the option to be able to buy and sell bitcoin directly on the mobile payments platform has been added to the Square app. The analyst stated that the added proceeds per user from this could add up to $125 each year. He raised his SQ’s price target to $65, suggesting a 30% increase after the company already experienced a stock raise of 50% so far.

“Either way, SQ’s fundamentals should keep improving. We expect fundamentals to continue to improve helped by SQ’s accelerating share gains and mix shift to large sellers. We continue to expect net yield to expand (from 1.05% in 1Q17 to 1.09%) helped by growing penetration of higher priced products more than offsetting mix shift to larger sellers,” said Dolev.

Square is led by Jack Dorsey, who is the CEO for both Twitter and the platform. Last month, the CEO took a bullish stand for the long run on bitcoin, expecting to see bitcoin remain the only currency in the next ten years.

“Will Bitcoin reshape the future of payments as CEO Dorsey often argues, or is it a passing fad? In reality, SQ’s correlation with Bitcoin has been on a downward trend. Plus, the stock is now less correlated with Bitcoin than PYPL, the payment networks or GOOG. Regardless, we estimate that opening Square Cash for Bitcoin trading earlier this year could drive a sizable boost to revenue and profits, driving up to 10% potential upside to adj. EBITDA guidance. This can help offset rising investment costs required to broaden Square’s international presence,” explained Dolev how bitcoin could influence upwards Square earnings.

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