One motivation is blockInvestment Bitcoin It’s about learning about technology and how to use it.
The company plans to invest 10% of gross profits from its Bitcoin products into buying Bitcoin each month, allocate less than 3% of its resources to Bitcoin-related projects, and use Bitcoin as its own cryptocurrency. Own Balance Sheet, Bloomberg report Thursday (June 27th).
“It helps us understand what it means to store bitcoin and what it means for treasury teams who are buying bitcoin on the market.” Amrita Ahuja“We’re not going to take any chances,” Block’s chief financial and chief operating officer told Bloomberg Television on Thursday, according to the report.
Ahuja said in an interview. Bitcoin This could potentially save consumers money on fees they currently pay to access and move money.,block Founder Jack Dorsey Recently, this technology has been for According to the report, consumers around the world feel that way.
In an interview on Thursday, Ahuja said: “We Bitcoin The most likely candidate to make this possible is vision, Because it’s resilient, battle-tested and safe.”
In May, Block’s first quarter earnings were result $200 million investment Bitcoin By the end of the quarter, it had increased by about 160% to $573 million.
In a letter to shareholders at that time“We believe the world needs an open monetary protocol that is not owned or controlled by any single entity, and we think Bitcoin is the best and only candidate for that protocol,” Dorsey said. Eventually becoming the native currency of the Internet.”
April, Block Ecosystem square and Cash App Eligible Square merchants Convert automatically A portion of daily sales Bitcoin With Cash App.
“Brock said, Bitcoin It is a means of economic empowerment and In the worldWhen announcing the new feature, the company said it would “empower people around the world, including business owners, to participate in a global monetary system.”
The company added that Square merchants have expressed interest. Bitcoin And he said, this thing various Applications In cases such as long-term savings and asset diversification, work’ Held.
