Block Plans to Add to Bitcoin Holdings Through New DCA Strategy

Block, formerly Square, launches a dollar cost averaging program to escalate its Bitcoin investments using 10% of monthly bitcoin-related profits.
Block Plans to Add to Bitcoin Holdings Through New DCA Strategy
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Key Takeaways

  • Block has launched a new DCA program to invest 10% of its monthly Bitcoin-related profits into Bitcoin.
  • The program is set to add an estimated $24 million in Bitcoin to Block's balance sheet by the end of 2024.
  • Block’s current Bitcoin holdings are valued at approximately $4.7 billion.

Block has initiated a new program that dedicates 10% of its monthly bitcoin-related profits to buy more Bitcoin.

This strategic effort began in April and is part of a broader initiative led by CEO Jack Dorsey.

Bitcoin profits fuel purchase plans

In its recent quarterly earnings, Block reported making $80 million in gross profit from Bitcoin activities.

At this rate, the program could add approximately $24 million worth of Bitcoin to Block’s balance sheet by year’s end.

$4.7 billion in Bitcoin assets

Block’s current holdings include over 8,027 bitcoins, acquired in 2020 and 2021. With Bitcoin’s price around $59,000, these are now valued at nearly $4.7 billion.

Alongside, Block released a “Bitcoin Blueprint For Corporate Balance Sheets,” detailing acquisition and management strategies for such assets.

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