Will Jack Dorsey’s Block decision to go ‘all in on crypto’ pay off?

Dorsey opined that BTC was not a speculative asset like other cryptos, hence the decision to stick to it.

“Less than 3% of company resources are dedicated to Bitcoin-related projects. All of which have been more than fully covered by the profits from our bitcoin exchange, which is Cash App’s fourth largest gross profit stream.” “We also believe in investing in the overall asset of the ecosystem, and holding bitcoin in our treasury. Going forward, each month we will be investing 10% of our gross profit from bitcoin products into bitcoin purchases.”

This was a 118.87% increase within the last year. Should the price of the coin revisit $73,000, Block’s Bitcoin holding might surpass $600 million.Tesla, which has Elon Musk as its chief, also disclosed that it had not sold any of its BTC for some time. Should these institutions continue to hold the coin, there is a high chance that prices might surge in the coming years.

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