Block CFO Says Cash App Owner’s Bitcoin Bet Is Long-Term Play
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Block Inc.’s investment in Bitcoin allows the firm to learn more about what could be a “potentially transformative” technology, according to one of its top executives.
Chief Financial Officer and Chief Operating Officer Amrita Ahuja said the firm’s bet on Bitcoin is a long-term play. Block said earlier this year that it will invest 10% of gross profit from Bitcoin products each month into buying the cryptocurrency.