Jack Dorsey’s Block Sees Drop in Bitcoin Revenue as Consumer Demand, Crypto Prices Slump

Block Tops Q4 Estimates, Posts Nearly $2B in Bitcoin Transactions

Block, whose chairman and co-founder is Jack Dorsey, recorded an impairment charge of $2 million on its bitcoin investment during the third quarter. As of Sept, 30, the fair value of Block’s bitcoin investment was $156 million based on “observable market prices,” which was $45 million greater than the carrying value of the investment after impairment charges, the company noted.

Source link

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments