Financial services company Block, Inc. (SQ), co-founded by Jack Dorsey, has been a vocal supporter of Bitcoin and has been steadily increasing its Bitcoin holdings. The company, which offers point-of-sale equipment to businesses and the popular Cash App, currently holds over 8,000 Bitcoins, resulting in a significant paper profit. Block’s long-term investment strategy involves allocating a portion of its Bitcoin-related profits to purchase more Bitcoin, minimizing market impact and demonstrating its commitment to the cryptocurrency.
