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<p>The post <a href="https://coinpedia.org/news/jack-dorseys-block-posts-90-boost-in-bitcoin-gross-profits-in-q4/">Jack Dorsey’s Block Scores Big with 90% Boost in Bitcoin Profits in Q4</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In the latest <a href="https://www.sec.gov/Archives/edgar/data/1512673/000119312524042835/d718674dex991.htm">Q4 earnings report</a>, Block, under the leadership of Jack Dorsey, revealed a staggering $207 million gain on its Bitcoin holdings. As of December 31, 2023, the company held approximately 8,038 BTC valued at $340 million. </p> 
<p>Let’s delve into the key details of this financial victory.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-boom-milestones-to-remember">Bitcoin Boom: Milestones to Remember</h2> 
<p>During this period, Block gained $207 million from the appreciation of its Bitcoin holdings, concluding the year with 8,038 Bitcoins valued at around $340 million.</p> 
<p>The earnings report highlighted a significant 37% year-over-year increase in Bitcoin revenue, totaling an impressive $2.52 billion. This surge was attributed to the rising price of Bitcoin and the appreciation of Block’s <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin</a> inventory during Q4.</p> 
<p>Cash App, Block’s mobile payment platform, reported a remarkable 90% growth in profits from bitcoin sales, reaching $66 million, contributing significantly to Block’s overall success.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/matrixport-report-forcast-bitcoin-price-to-hit-63000-by-march-2024/">Fed Rate Cuts, Halving Hype: Matrixport Predicts Bitcoin Price Surge to $63K By March</a></p> 
<h2 class="wp-block-heading" id="h-square-and-cash-app-soar">Square and Cash App Soar</h2> 
<p>Block’s financial services platform, Square, recorded an impressive 18% year-over-year increase, boasting a gross profit of $828 million.</p> 
<p>Combining Square and Cash App, Block generated a total gross profit of $2.03 billion in Q4, reflecting a solid 22% year-over-year increase. Post-announcement, Block’s shares experienced a notable 5.41% increase on Thursday, followed by an additional surge of 13.23% in after-hours trading.</p> 
<h2 class="wp-block-heading" id="h-all-in-all">All in All</h2> 
<p>Block’s Q4 success is marked by strategic Bitcoin maneuvers, soaring profits, and a positive market response. With no shortage of Bitcoin gains and an impressive financial performance, Block stands strong.</p> 
<p>Read More: <a href="https://coinpedia.org/price-analysis/top-10-altcoins-to-surge-10x-by-bitcoin-halving/">Top 10 Altcoins to Surge 10x By Bitcoin Halving</a></p>

Jack Dorsey’s Block Scores Big with 90% Boost in Bitcoin Profits in Q4

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