Popular mobile payment platform Cash App, developed by Jack Dorsey’s Block Inc., generated $10 billion in bitcoin revenue and $218 million in bitcoin gross profit in 2021. Compared to the previous year, the bitcoin revenue increased 119% while gross profit rose 124%.
Cash App’s Bitcoin Business
Block Inc., formerly Square Inc., released its Q4 2021 earnings report Thursday. The report includes the performance of Cash App, the firm’s mobile payment platform that allows users to trade bitcoin.
The company stated:
Cash App generated $1.96 billion of bitcoin revenue and $46 million of bitcoin gross profit during the fourth quarter of 2021, up 12% and 14% year over year, respectively.
“Compared to the third quarter of 2021, bitcoin revenue and gross profit increased on a quarter-over-quarter basis, driven primarily by increased volatility in the price of bitcoin, which affected trading activity compared to the prior quarter,” Block detailed, adding:
For the full year of 2021, Cas
We współpracy z: https://news.bitcoin.com/cash-apps-bitcoin-revenue-grew-119-in-2021-gross-profit-from-btc-rose-124/
