More than 10 million people have now bought Bitcoin using Jack Dorsey’s CashApp, according to Block’s Q1 2022 shareholder letter. The app generated $624 million in gross profit for the company over that time, $43 million of which came from Bitcoin sales.
Expanding Bitcoin Access
The company states that it is focused on expanding awareness and access to Bitcoin among its customers, in order to bolster the network’s adoption. Block Head Jack Dorsey – who stepped down as CEO of Twitter in May – is very bullish on Bitcoin becoming the world reserve currency.
In April, CashApp announced its integration with the lightning network, granting customers access to immediate and free Bitcoin transactions. It also announced its new “Get Paid in Bitcoin” feature, which converts its customers’ recurring paychecks into Bitcoin automatically.
“We have experienced growing momentum with customers bringing their paychecks into Cash App, and hope this feature will expand awareness of ou
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