Block (SQ) Boosts Bitcoin (BTC) Portfolio to $4.7 Billion: Dorsey’s Crypto Strategy

• Block, the payments firm led by CEO Jack Dorsey, has launched a dollar cost averaging (DCA) program to expand its Bitcoin holdings.
• The firm will leverage 10% of its monthly Bitcoin-related gross profit for additional Bitcoin purchases throughout 2024.
• Block’s original Bitcoin investment of $220 million has appreciated by 160% to $573 million.

Block, led by CEO Jack Dorsey, plans to expand its Bitcoin holdings by leveraging 10% of its monthly Bitcoin-related gross profit for additional Bitcoin purchases throughout 2024.

Block’s Bitcoin Investment Strategy

Block’s decision to expand its Bitcoin holdings follows its first-quarter financial results, which revealed an $80 million Bitcoin gross profit. If this profit trend continues,... Read the full article for FREE at COINOTAG!