Jack Dorsey's Block Company announces acquisition Bitcoin Every month, 10% of your gross profit will come from BTC products. In a memo released today, Block shared corporate balance sheet dollar-cost averaging (DCA) programs. The company says it plans to invest 10% of the monthly gross block profits from its Bitcoin products into buying investment Bitcoins.
in Post to X, Dorsey says, “Block DCA Bitcoin every month. There are ways your company can do it too.'' Dorsey links to “A Bitcoin Blueprint for Corporate Balance Sheets.'' keep sharing. The blueprint reveals that Block Inc. plans to purchase Bitcoin on a monthly basis using TWAP orders. The initiative reportedly began in April 2024.
Additionally, Mr. Block's memo/blueprint states: “By allocating a portion of your monthly Bitcoin gross profit to your Bitcoin investments on a regular, pre-determined cadence, you avoid the challenges of market timing. Bitcoin prices are highly volatile and difficult to predict because they are not always correlated.
Also read: Cryptocurrency: Top 3 Layer 2 Coins by Development Activity to Buy Now
Jack Dorsey's block made its first Bitcoin purchase of 4,709BTC in October 2020. Four months later, he bought more than 3,000 more. Currently, Block holds 8,038 Bitcoins. This represents approximately 9% of Block's total cash, cash equivalents and securities, Block said. The total amount of Bitcoin held by the company is worth more than $489 million at current prices.
