$BTC NEW: Block buys 120 BTC in Q3, lifting its treasury to 9,237 BTC worth about $772 million against an estimated $319 million cost basis.
The buy was funded from Bitcoin gross profit, even as that segment fell 50% year over year to $52 million.
Block says the drop is deliberate: it cut Cash App Bitcoin fees to make buying cheaper.
Company-wide gross profit rose 22% to $3.24 billion, so it can afford to trade margin for users.
The buy was funded from Bitcoin gross profit, even as that segment fell 50% year over year to $52 million.
Block says the drop is deliberate: it cut Cash App Bitcoin fees to make buying cheaper.
Company-wide gross profit rose 22% to $3.24 billion, so it can afford to trade margin for users.
