Fortune·2025-11-04 13:49Core Insights - There is a growing trend among corporate treasuries to add bitcoin to their balance sheets as institutional acceptance and regulatory clarity increase [1] Company Overview: Block - Block has held bitcoin as part of its corporate assets since 2020, with a recent announcement of Square Bitcoin, a fully integrated bitcoin payments and wallet solution launching on Nov. 10 [2] - The company's bitcoin journey began with customer demand, launching the ability for Cash App users to buy, hold, and sell bitcoin in 2018, resulting in over 20 million active users trading more than $58 billion worth of bitcoin [4] - Block made its first corporate bitcoin purchase of $50 million in 2020, representing less than 1% of total assets, primarily as a learning exercise, and expanded its holdings with an additional $170 million investment in 2021 [5] - As of Q2 2023, Block held 8,692 bitcoin on its balance sheet [6] Investment Strategy - Block positions bitcoin as a long-term investment, guided by clear risk parameters, despite some finance leaders viewing it as too volatile compared to traditional assets [7] - The company has adopted a dollar-cost averaging strategy, reinvesting 10% of monthly gross profit from bitcoin products starting in 2024 [5] - Leaders at Block emphasize the importance of tracking regulation and treating bitcoin like any other strategic asset [10] Market Sentiment and Future Outlook - The perception of bitcoin has shifted dramatically since 2020, when it was seen as purely speculative, to being viewed as a principled, calculated risk representing a small slice of Block's portfolio [9] - Institutional infrastructure for bitcoin has matured significantly, creating greater stability, which supports a long-term view on investment [8] - Block's leaders see bitcoin as part of the future, alongside advancements in AI, and advise peers to treat it as a strategic investment [11]