Block’s Shares Jumped 7% Despite Declining Q4 Bitcoin Revenue
Block claimed the reduced bitcoin revenue in Q4,2022 resulted from the crypto market collapse that occurred last year.
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Block claimed the reduced bitcoin revenue in Q4,2022 resulted from the crypto market collapse that occurred last year.
CashApp users on both Android and IOS can receive Bitcoin lightning payments.
Excluding BTC, Block’s Q2 revenue and gross profit increased by 34% and 29%, respectively.
Jack Dorsey’s company saw significantly fewer Bitcoin purchases compared to last year, due in large part to the 2022 bear market.
Ark Invest has sold the shares of the fintech giant PayPal and revealed fully backing Bitcoin-friendly Cash App.
CashApp announced multiple new Bitcoin integrations today, alongside a major improvement to the Bitcoin user experience.
The latest major company to change its name is payments platform Square which has announced it is to be known as Block from now on.
Block reported significant Bitcoin sales via mobile Cash App in 2023, generating $205M gross profit and $9.5B revenue.
Block is looking to channel funds toward Bitcoin mining initiatives and Bitkey wallet growth.
"The year-over-year increase in bitcoin revenue and gross profit was driven by an increase in the quantity of bitcoin sold to customers," the firm said.
The San Francisco Police Department have not made any arrests so far.
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