Block, the fintech conglomerate founded by Jack Dorsey, has announced that it will be investing 10% of its gross profit from Bitcoin products directly into BTC itself. This strategic investment comes as a result of positive developments within the company and the broader market. Block implemented a bitcoin dollar cost average (DCA) purchase program in April, which will continue until 2024. Under this program, Block will invest 10% of its gross profit from bitcoin products into Bitcoin purchases. The company believes that Bitcoin aligns with its corporate mission of economic empowerment, offering individuals a way to participate in a global monetary system and control their financial future. Block also plans to evaluate its investment in Bitcoin compared to its other investments on an ongoing basis. Prior to the start of the new purchase program, Block held 8,038 BTC on its balance sheet, which represents approximately 9% of the company’s total cash, cash equivalents, and marketable securities. As of now, BTC is trading at $63,159, with a nearly 6% increase in the past 24 hours.