Block, Led by Jack Dorsey, Reveals Profit-Driven Crypto Investment Strategy Focusing on Coin Name (Symbol)

• Block, formerly known as Square and led by Jack Dorsey, has exceeded analysts’ expectations with its Q1 earnings report.
• The company has seen a rise in its shares after the report, with a notable move to increase Bitcoin assets and encourage others to do the same.
• Block’s original Bitcoin investment of $220 million has already increased by approximately 160% to reach $573 million.

Block, previously known as Square, has reported impressive Q1 earnings, exceeding analysts’ expectations and leading to a rise in shares. The company’s strategic Bitcoin investment has also seen significant growth.

Block’s Bitcoin Investment Strategy Boosts Shares

Block reported adjusted earnings of 85 cents per share, surpassing the consensus estimate by 13 cents and generating revenue of $5.97 billion, exceeding Wall Street’s projection of $5.82 billion. Gross profit for the quarter increased by 22% compared to the previous year, reaching $2.09 billion.

Increasing Bitcoin Assets

Under the leadership of Jack Dorsey, the company announced plans to increase its Bitcoin assets and encourage others to do the same by making its treasury plan open-source. Block will invest 10% of the gross profit from its... Read the full article for FREE at COINOTAG!