Jack Dorsey remains committed to promoting Bitcoin and blockchain technology in his recent letter to shareholders of Block Inc. He continues to express his strong belief in a future where Bitcoin is widely used and accepted. According to Jack, he firmly believes that the internet will eventually have its own currency, and Bitcoin is on track to fulfill this role.

In the shareholder update, Jack Dorsey discusses his vision for the future of Bitcoin and Block. He emphasizes the importance of making Bitcoin more user-friendly and accessible, while also staying true to Satoshi Nakamoto's original vision for the cryptocurrency as a medium of exchange.

Block Inc. has a deep-rooted connection to Bitcoin and blockchain technology. In the Q1 shareholder letter, Jack Dorsey defends the company's focus on Bitcoin, stating that they are dedicated to creating an open protocol for money that is not controlled by any single entity. This aligns with the company's mission to serve a global audience and promote financial freedom.

Jack Dorsey underscores Block's commitment to Bitcoin by emphasizing its unique capabilities and intended use case. While other cryptocurrencies may serve different purposes, Block remains dedicated to Bitcoin for its potential to revolutionize the financial industry. The company's efforts in developing Bitcoin-related products and services reflect their commitment to advancing the use of cryptocurrency worldwide.

Since becoming the first publicly traded company to offer a Bitcoin product in 2018, Block has been dedicated to making Bitcoin more accessible and secure. Jack Dorsey highlights the company's core directives of accessibility, security, and usability as driving forces behind their development efforts. The successful introduction of the Cash App, which allows users to buy, sell, and withdraw Bitcoin, has contributed significantly to Block's financial success.

In a major announcement, Jack Dorsey reveals that Block will be investing 10% of its gross profits from Bitcoin products into Bitcoin purchases monthly. This strategic approach aims to mitigate volatility and maximize returns on Block's Bitcoin assets. The company has seen considerable growth in its Bitcoin holdings, with a net value exceeding $573 million, reflecting a 160% increase from its initial investment.