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post: $SQ BLOCK: IMPLEMENTED A BITCOIN DOLLAR COST AVERAGE BUY PROGRAM post: JUST IN : JACK DORSEY’S BLOCK SAYS IT WILL BUY BITCOIN EVERY MONTH WITH 10% OF ITS GROSS PROFIT BLOCK HAS SPENT $220 MILLION ON BUYING BITCOIN THATS WORTH $575 MILLION NOW ( UP 160% ) $SQ
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This memo provides an update on Block, Inc.’s (“Block”) strategy for company-owned bitcoin held for investment purposes (“bitcoin investment”), including our historical purchase execution, storage mechanics, and insurance and accounting considerations. We also provide an overview of our new corporate bitcoin purchase program and the launch of Square’s ...