"Since 2020, fintech Block ( No. 179 on the Fortune 500) has held bitcoin as part of its corporate assets."
"We can help turn our Square sellers into corporate bitcoin holding companies as well," Amrita Ahuja, Block's COO and CFO, told me."
"As of the second quarter of this year, Block held 8,692 bitcoin on its balance sheet."
Corporate treasuries are increasingly adding bitcoin to balance sheets as institutional acceptance and regulatory clarity improve. Block began offering bitcoin through Cash App in 2018, with over 20 million active users trading more than $58 billion in bitcoin. Block made a $50 million corporate bitcoin purchase in 2020, added $170 million in 2021, and in 2024 began dollar-cost averaging by reinvesting 10% of monthly gross profit from bitcoin products. Block open-sourced bitcoin frameworks, launched a real-time bitcoin dashboard, and held 8,692 bitcoin on its balance sheet as of Q2. Square Bitcoin will offer integrated payments and wallets for businesses starting Nov. 10.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]