Jack Dorsey's Block Reinvests 10% Gain in Bitcoin Bet

Quick Summary:

Block Inc., the former Square, which is owned by Jack Dorsey, has declared that it will reinvest 10% of its Bitcoin-related gross profits into Bitcoin.

This step is part of the new company’s policy to get more involved into cryptocurrency, demonstrating the company’s faith in Bitcoin’s value as a basic digital currency.

On May 2, 2024, while giving an update to the shareholders, Dorsey put forward his vision for Bitcoin as the internet’s native currency.

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Article Details

Author / Journalist: Kelvin Munene Murithi

Category: Crypto

Markets: India

Topics: Block Inc Bitcoin News Bitcoin 24/7 Cryptocurrency News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-03 @ 08:22:38 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 454 words

Reading Time: 3 minutes read

Sentences: 25 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 20859114

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Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 51 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 8 hours ago

Coverage Areas: India

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