Block to use 10% of bitcoin profits… to buy more bitcoin

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Shares of Block (SQ) are moving up Friday morning — gains eventually pulling back after the market open, but remaining in the green — after the fintech company posted its first-quarter earnings results, revealing a 22% gain in gross profit, compared to one year ago. The company announced that they plan on using 10% of those profits from bitcoin (BTC-USD) products, to buy more bitcoin as an investment.

Morning Brief Anchor Brad Smith breaks down the latest development for Block as it leans heavier into investing in bitcoin

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Nicholas Jacobino



This article was originally published by a finance.yahoo.com

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