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PAYMENT FIRM BLOCK HAS ANNOUNCED THAT IT WILL USE 10% OF ITS MONTHLY GROSS PROFIT FROM BITCOIN-RELATED PRODUCTS TO BUY MORE BITCOIN FOR THE REST OF 2024.
IN Q1 OF 2024 THE COMPANY SAW A $80 MILLION IN PROFIT. IF THIS CONTINUES IT IS EXPECTED THAT $24 MILLION WORTH OF BITCOIN WILL BE ADDED TO BLOCK'S BALANCE SHEET.
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