According to Amrita Ahuja, Block Inc.'s chief financial officer and chief operating officer, the company's investment in bitcoin allows the company to learn more about this potentially "transformative" technology. The company's bet on bitcoin is long-term. We are bullish on a future where money can flow as quickly as the internet, and bitcoin is the most likely contender to realize this vision because it is resilient, battle-tested, and secure. Ahuja says the most underserved consumers tend to be those who pay the highest fees to access and move money, and bitcoin could change that reality.
In a recent letter to shareholders, Block founder Jack Dorsey said bitcoin has the potential to "level the playing field" for companies like his and consumers around the world, noting that less than 3 percent of the company's quota goes to bitcoin-related projects.
Block said earlier this year that it would invest 10% of its gross profits from bitcoin products each month in buying cryptocurrencies.
Block: Company's bet on bitcoin is long-term
2024-06-28 05:06:40
Block inc chief financial officer chief operating officer amrita ahujadesk3cryptocurrencydesktopCrypto News
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