Block Inc. (NASDAQ:SQ), the financial technology company led by former Twitter CEO Jack Dorsey on Thursday reported a rise in profits from its Bitcoin (CRYPTO: BTC) sales made through the Cash App. What Happened: In the fourth quarter of 2023, the company saw a gross profit of $66 million—marking a 90% boost year-over-year. According to the firm’s shareholder report, Bitcoin sales to customers reached $2.52 billion in the same period, showing a 37% year-over-year increase. “The year-over-year increase in Bitcoin revenue and gross profit was driven by an increase in the average market price of …

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