Express

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.

Last Update:

Tags: ,,
Link: Jack Dorsey’s Block Plans To Invest In Bitcoin On A Monthly Basis   [Copy]
Next:

Related Articles

  • BTC Weekly Outlook: A Bullish Week, but Signs Point to a Shift to Defensive Play 9 hours ago
  • Figma's IPO Triumph and Crypto Bet: How a Design Disruptor Stunned Wall Street After a ... 11 days ago
  • When Stablecoins Tear Down Banks’ Interest Margin Moats — A Third Look at the U.S. “Ge... 12 days ago
  • Twitter Space Highlight: Is Altcoin Season Coming? Unpacking BTC, Institutions & RWA 14 days ago
  • BTC Weekly: Momentum Top Divergence Signals Potential Shift Lower 14 days ago

    • You need to login to comment.