Block (BTC) to Reinvest 10% of Gross Profit from Bitcoin Products: A Strategic Move by CEO Jack Dorsey
- Jack Dorsey’s fintech firm, Block, is investing 10% of its gross profit from Bitcoin products into Bitcoin.
- The firm has implemented a Bitcoin dollar cost average (DCA) purchase program that will run through 2024.
- Block held 8,038 BTC on its balance sheet at the end of March, representing approximately 9% of the company’s total cash, cash equivalents, and marketable securities.
Block, the fintech conglomerate led by Jack Dorsey, is strategically investing in Bitcoin, aligning with its mission of economic empowerment through global monetary system participation.
Block’s Strategic Bitcoin Investment
Block, the fintech firm led by Jack Dorsey, is making a significant move in the crypto market. The company announced it is investing 10% of its gross profit from Bitcoin products directly into Bitcoin. This strategic investment comes in the wake of several positive developments within the company and the broader market.
Bitcoin Dollar Cost Average Purchase Program
In April, Block implemented a Bitcoin dollar cost average (DCA) purchase program that will run through 2024. Under this program, Block will be investing 10% of its gross profit from Bitcoin products into Bitcoin purchases. The firm believes that Bitcoin is an instrument of economic empowerment, providing a way for individuals to participate in a global monetary syst... Read the full article for FREE at COINOTAG!
