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Jack Dorsey’s Block Plans To Invest In Bitcoin On A Monthly Basis

Mary Liu

Summary: Jack Dorsey's payment company Block has begun implementing a dollar cost averaging (DCA) plan, to use 10% of its Bitcoin business gross profits to invest in Bitcoin every month. According to its first-quarter financial report, Block’s Bitcoin gross profit was $80 million. If this level of profits continues into the second half of the year, ...

Jack Dorsey's payment company Block has begun implementing a dollar cost averaging (DCA) plan, to use 10% of its Bitcoin business gross profits to invest in Bitcoin every month.

According to its first-quarter financial report, Block’s Bitcoin gross profit was $80 million. If this level of profits continues into the second half of the year, the company will add another $24 million worth of Bitcoin to its balance sheet.

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