Block Inc. has increased its corporate Bitcoin treasury by 85 BTC, taking its total holdings to 9,117 BTC. According to Bitcoin Treasuries.NET, this purchase has moved the company to 15th place in the Bitcoin 100 corporate holdings ranking. The latest addition comes less than three weeks after the company joined the S&P 500, becoming the second crypto-focused company to enter the benchmark U.S. stock index after Coinbase.
Bitcoin Strategy
Block has a long-running strategy of holding Bitcoin on its balance sheet alongside integrating the asset across several business lines. The company allocates 10% of the monthly gross profit generated from its Bitcoin-related products toward purchasing more Bitcoin.
Corporate Holdings
The latest increase comes during a period when corporate Bitcoin treasury strategies continue evolving, with companies adopting different approaches toward managing their holdings. Block's approach differs from others, such as Strategy, which has sold BTC to support preferred-stock dividends and debt obligations.
