Jack Dorsey's Block Started Buying Bitcoins Four Years Ago: Here's How Much They Are Worth Today
Portfolio Pulse from Aniket Verma
Block, Inc. (NYSE:SQ), co-founded by Jack Dorsey, has been investing in Bitcoin since 2020. The company holds 8,211 BTC, valued at $511.29 million, with a paper profit of $279.89 million. Block plans to allocate 10% of its monthly Bitcoin-related gross profit to further Bitcoin purchases.
October 08, 2024 | 1:00 pm
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Block, Inc. holds 8,211 BTC worth $511.29 million, with a significant paper profit. The company plans to allocate 10% of its monthly Bitcoin-related gross profit to further Bitcoin purchases, indicating a strong commitment to cryptocurrency investment.
Block's significant Bitcoin holdings and its strategy to continue purchasing Bitcoin with a portion of its profits suggest a bullish outlook on cryptocurrency. This could positively impact investor sentiment and the stock price in the short term.
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