Block earnings report.

This now from Dorsey’s “Bitcoin Blueprint For
Corporate Balance Sheets”

  • With the launch of Square’s Bitcoin Conversions product, which allows sellers to
    automatically convert a portion of their sales into bitcoin holdings, we are announcing
    our new corporate balance sheet dollar cost average (“DCA”) program, under which
    each month we will be investing 10% of Block’s monthly gross profit from bitcoin
    1
    products into purchases of bitcoin for investment. As an evolution from our previous
    strategy of purchasing bitcoin in lump sums, the program brings a principled
    investment approach to Block’s commitment to the asset class
  • Under the DCA program, we plan to purchase bitcoin on a monthly cadence utilizing
    TWAP orders, starting April 2024. We will execute these over a shorter time window
    due to lower notional trade values and improved bitcoin liquidity compared to 2020
    and 2021. To reduce slippage, we have chosen to purchase bitcoin over a two-hour
    window that has historically had the greatest amount of liquidity.

Another bid added to the list of those already underpinning the crypto.