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Block's Bitcoin Holdings Gained Four Times More Than Its Bitcoin Sales Revenue
(3 hours ago) · 1 source · Summarized by CryptoBipto
Block, the financial technology company led by Jack Dorsey, reportedly earned significantly more from holding Bitcoin on its balance sheet than from selling Bitcoin to Cash App users. The company's Q3 results showed that unrealized gains on its Bitcoin holdings outpaced the gross profit generated from its Bitcoin trading services by a ratio of roughly four to one.
WHY IT MATTERS
Block is a large financial technology company that owns the popular Cash App, which millions of people use to send money and buy Bitcoin.
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SOURCES
- beincrypto.com
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