Block Announces Regular Bitcoin Investments as CEO Dorsey Bets on Limited Supply

In summary, Jack Dorsey, CEO of Block (formerly known as Square), has announced that his company will regularly invest 10% of its Bitcoin-related product gross profits into Bitcoin as an investment strategy. This move will see Block allocate around $8m to buying Bitcoin each month, starting with a $4.4m purchase in April. The new plan follows Dorsey’s belief that Bitcoin’s price will rise as demand increases due to its limited supply, and he encourages other business leaders to do the same. By using a process called dollar-cost averaging, which involves investing a set amount at regular intervals rather than trying to predict Bitcoin’s volatility, the company aims to minimise risk and optimise its long-term position. Institutional adoption of Bitcoin is also expected to grow, potentially leading to a significant increase in the asset’s value according to Cathie Wood’s ARK Invest. Before investing in Bitcoin, however, it’s important to research thoroughly and seek professional financial advice where necessary. Overall, this development highlights the growing acceptance and accessibility of Bitcoin for investment purposes, particularly among large corporations.