TechFlow reported that Block, the fintech company led by former Twitter CEO Jack Dorsey, released its fourth-quarter 2023 earnings report. The report showed that Bitcoin gross sales volume through the Cash App reached $2.52 billion, a 37% year-over-year increase, with profits totaling $66 million, up 90% from the previous year.
As of December 2023, the company has realized $207 million in gains from its Bitcoin investments. Its balance sheet holds 8,038 Bitcoins, valued at approximately $340 million at the time, now worth over $400 million.
Previous report, Jack Dorsey's payment company Block launched a Bitcoin hardware wallet called Bitkey.
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