Block (SQ) Boosts Bitcoin (BTC) Portfolio to $4.7 Billion: Dorsey’s Crypto Strategy
Release: 2024/05/04 01:29 Reading: 317
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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's Bitcoin Investment Strategy
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.
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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!
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