Holding Bitcoin Paid Block 4x More Than Selling It to Cash App Users
Jack Dorsey’s Block booked a $229.7 million gain on its Bitcoin (BTC) holdings in the third quarter. That gain was more than 4 times the $52 million gross profit its Bitcoin business earned. Block stock rose 5.84% to $80.44 in after-hours trading on November 3, from a $76.00 close. The company topped its own guidance, The post Holding Bitcoin Paid Block 4x More Than Selling It to Cash App Users appeared first on BeInCrypto.
Key Takeaways
- Jack Dorsey’s Block booked a $229.7 million gain on its Bitcoin (BTC) holdings in the third quarter.
- That gain was more than 4 times the $52 million gross profit its Bitcoin business earned.
- Block stock rose 5.84% to $80.44 in after-hours trading on November 3, from a $76.00 close.
Summary generated by IndiCrypto from BeInCrypto. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
More in Web3
Trump-Linked Tokens Crash as Democrats Win Midterms
U.S. President Donald Trump-linked tokens crashed by as much as 11% before partially recovering, but failed to rebound like bitcoin as Democrats won control of both the Senate and House. As election results began to point to a Republican defeat late on Nov.…
Bitcoin Price Analysis: Can BTC Reach $80K?
Bitcoin Price Analysis is back in focus after BTC staged a sharp V-shaped recovery following the US midterm elections. After briefly dropping below $76,000, Bitcoin rebounded toward $78,000, raising an important question: Can buyers overcome key resistance…
XRP Price Outlook Strengthens as Million-Token Wallets Hit Annual High
XRP, the native cryptocurrency of the XRP Ledger, is up 2.15% since yesterday, trading at $1.27. The uptick…