Jack Dorsey's Block Commits to Major Bitcoin Investment Strategy

Block, led by Jack Dorsey, plans to invest 10% of its Bitcoin-related profits into Bitcoin each month throughout 2024, reinforcing its strong belief in the cryptocurrency's future.

Block's new investment strategy involves reinvesting 10% of its monthly gross profit from Bitcoin-related products back into Bitcoin.
The initiative is part of a broader commitment by Block to enhance its position in the cryptocurrency market and support the growth of Bitcoin as the 'native currency of the internet'.
Block's Bitcoin investments have grown significantly, with its holdings appreciating 160% to $573 million by the end of Q1 2024.
The company has also faced regulatory scrutiny, with federal prosecutors investigating alleged compliance lapses at its Cash App unit.
Despite challenges, Block continues to innovate in the crypto space, recently completing the design of a cutting-edge 3 nanometer mining chip.