In his first quarter letter to shareholders, Jack Dorsey, Block's CEO, shared the company's plans for bitcoin.
He said bitcoin-related activities account for less than 3% of the company's total resources.
In the future, Dorsey said that Block will invest 10% of its gross revenue in #bitcoin purchases every month.
Jack Dorsey is certainly an ardent supporter of bitcoin and #blockchain technology. His recent letter to Block shareholders confirms his firm belief in a future in which the potential use of bitcoin will be well honed. In it, Jack states that he firmly believes that the internet will have its own currency and that it is only a matter of time.
In his letter to shareholders, Jack Dorsey expresses his ambitions for bitcoin and blockchain. According to him, making bitcoin available for everyday use would mean treating bitcoin as a medium of exchange and realizing Satoshi Nakamoto's original dream of #cryptocurrencies .
Jack Dorsey's blockchain company has always been deeply involved in bitcoin and #blockchain technology. In his letter to Q1 shareholders, Dorsey defended Block Inc's interest in bitcoin, stating that the company is devoting a lot of time to bitcoin because it believes the world needs an open protocol for money that is not owned or controlled by any particular organization. The company stated.
Blockchain has since taken an active role in developing an open protocol that will benefit more people around the world. Dorsey spoke negatively about bitcoin, saying that unlike other cryptocurrencies, Block focused on bitcoin because of its capabilities and perceived usage scenarios. Other cryptocurrencies in the market are trying to solve various problems that are not in line with Block Inc. 's mission.
In 2018, Block Inc. became the first publicly listed company to offer a bitcoin product. Since then, the company has focused on making bitcoin accessible, safer, and usable on a daily basis.
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