Block (BTC) to Reinvest 10% of Bitcoin Profits: Jack Dorsey’s Strategic Crypto Move

• Block, formerly known as Square, Inc, has announced plans to buy Bitcoin with 10% of its gross profits from Bitcoin-related products and services.
• The company will be acquiring Bitcoin on a monthly basis as part of a “principled investment approach”.
• Block’s first-quarter revenue included $2.7 billion from Bitcoin sold to customers, and the company also launched a service last month that allows companies to convert up to 10% of their revenue into Bitcoin automatically.

Block, previously Square, Inc, is set to invest 10% of its gross profits from Bitcoin-related services into Bitcoin purchases. This move is part of a long-term investment strategy, reflecting the company’s strong commitment to the cryptocurrency.