Fintech company Block posted a remeasurement gain of $207 million on its bitcoin (BTC) holdings in its fourth-quarter earnings report released Thursday. As of Dec. 31, 2023, Block held approximately 8,038 BTC for investment purposes with a fair value of $340 million. The Jack Dorsey-led company made $66 million in gross profit on bitcoin sales last quarter through Cash App, a banking services platform, a 90% increase year over year. “The total sale amount of bitcoin sold to customers—which we recognize as bitcoin revenue—was $2.52 billion, up 37% year over year,” the report said.

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• Source: https://www.coindesk.com/markets/2024/02/23/first-mover-americas-worldcoin-the-graph-and-filecoin-finish-the-week-on-top/?utm_medium=referral&utm_source=rss&utm_campaign=headlines