The CEOs of Block Inc SQ and MicroStrategy Inc MSTR, Jack Dorsey and Michael Saylor respectively, have both expressed a bullish outlook on Bitcoin BTC/USD and have made significant investments in the cryptocurrency through their companies.
What Happened: Block reported a 37.5% growth in Bitcoin-related revenue. The company’s Bitcoin revenue reached $2.42 billion, marking a substantial increase compared to the previous year’s $1.76 billion. Furthermore, the gross profit derived from Bitcoin also saw an improvement, rising from $36 million to $44 million year-over-year.
Of importance is the fact that the market value of these holdings exceeded their book value by $114 million.
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