ICYMI: Block reports $1.96 billion in bitcoin revenue via Cash App during fourth quarter of 2021
Payments company Block, formerly known as Square, said Thursday that it made $1.96 billion in bitcoin sales during the fourth quarter of 2021 via its Cash App, producing $46 million in gross profits from bitcoin.
Block said Cash App generated just over $10 billion in bitcoin sales for 2021, representing $218 million in bitcoin gross profit.Cash App brought in $1.96 billion worth of bitcoin sales during 2021's final quarter, according to a Thursday"Bitcoin revenue and gross profit benefited from year-over-year increases in the price of bitcoin and number of bitcoin actives," the firm explained.
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