In the future, more and more Bitcoin will flow into institutional companies, cherish every pullback
Not only the purchase of various ETFs, but more and more companies will also increase the allocation ratio of BTW.
Jack Dorsey's payment company Block has begun implementing a dollar cost averaging (DCA) plan to increase its already considerable Bitcoin (BTC) reserves. Block began using 10% of its monthly Bitcoin-related gross profits to purchase additional Bitcoin in April, and plans to do so every month for the rest of 2024.
According to the first quarter financial report, Block's Bitcoin gross profit was $80 million. If this profit level continues until the second half of this year, the company's balance sheet will be added with another $24 million worth of Bitcoin under this plan.
Block already holds a large amount of Bitcoin, purchasing 4,709 Bitcoins in October 2020 and another 3,318 tokens in early 2021. At today's price of about $59,000, these Bitcoins are now worth about $4.7 billion.
