Block has introduced a new strategy that involves devoting 10% of gross profits to the purchase of bitcoins every month. At the moment, the company has 8,038 BTC on its balance sheet.

The Dollar Cost Average (DCA) corporate strategy will be in effect until the end of 2024. Block will then evaluate its effectiveness and decide whether to extend the strategy until 2025. Currently, $4.4 million has already been allocated for the purchase of bitcoins under the DCA.

According to Block representatives, the corporate strategy will reduce the risks associated with finding the right time to purchase Bitcoin. DCA will also optimize Block's long-term investment position in the cryptocurrency market.

Note that Block's Bitcoin-related gross profits come from several sources. These include trading transactions with the first cryptocurrency on the Cash App platform and income from funds available in the company’s accounts.

According to the latest financial report for the first quarter of 2024, the company has 8,038 BTC on its balance sheet. During the period mentioned, Block's BTC-related gross revenue was $80 million.

Earlier, the US Attorney's Office began investigating the company's financial transactions. Authorities found non-compliance at Square and Cash App.