BULLISH 55 BeInCrypto 2H ago · 3 min read

Holding Bitcoin Paid Block 4x More Than Selling It to Cash App Users

AI summary

Block, Jack Dorsey's payments company, recorded a $229.7 million gain on its Bitcoin holdings in the third quarter, more than 4 times the $52 million gross profit from its Bitcoin business. Block stock rose 5.84% to $80.44 in after-hours trading on November 3 from a $76.00 close, and the company beat its own guidance. The result shows corporate BTC treasuries can outearn Bitcoin-related operating businesses, a signal that could encourage more institutional balance-sheet exposure to BTC.

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