TechFlow News — Jack Dorsey's payment company Block (SQ) has initiated a recurring investment program to increase its existing Bitcoin (BTC) holdings.
The company plans to allocate 10% of its monthly Bitcoin-related gross profit toward purchasing additional Bitcoin, with this strategy set to be executed each month for the remainder of 2024.
According to its first-quarter financial report, Block generated $80 million in Bitcoin gross profit during the quarter. If this profit level continues, the company will add $24 million worth of Bitcoin to its balance sheet under this program.




