Bullish on Bitcoin? Here's Why You Should Consider Block Stock.
Block (NYSE: SQ) Chief Executive Officer Jack Dorsey isn't shy about his views on Bitcoin (CRYPTO: BTC). During a Bitcoin conference a few years ago, he said: "I don't think there is anything more important in my lifetime to work on." Dorsey envisions Bitcoin making finance more inclusive and boosting underserved communities worldwide, and Block is making strides in expanding its presence in the Bitcoin ecosystem.
In July, Core Scientific agreed to buy Block's newly developed hardware for its large-scale Bitcoin mining operations. If you're a long-term bull on Bitcoin, here's why Block could be the ideal stock for you.
In 2018, Block made Bitcoin trading available for Cash App users. It has since expanded how customers can acquire Bitcoin by converting a percentage of direct deposits into Bitcoin, or allowing users to round up transactions and convert that spare change into Bitcoin with no fees. Earlier this year, Block announced it would invest 10% of its Bitcoin gross profit to acquire more Bitcoin.
Source Fool.com
