Financial services company Block, Inc. (NYSE:SQ), co-founded by tech mogul Jack Dorsey, is well-known for holding a significant amount of Bitcoin (CRYPTO: BTC) on its balance sheet.
What happened: Exactly four years ago on Oct. 7, 2020, the company, which also sells point-of-sale equipment to small businesses, acquired 4,709 BTCs for a total of $50 million, or $10,618 per unit.
The firm doubled down on the strategy in subsequent months, bagging an additional 3,318 BTCs at an aggregate price of $170 million in February 2021.
According to …
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