Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.
Artificial Intelligence -related altcoins finished the week on top: SingularityNET surged 97% and Worldcoin’s WLD gained 93% to a record of $9.03. Filecoin’s FIL token and the Graph’s GRT alsojumped in price Wednesday after chipmaker Nvidia beat fourth-quarter earnings and first-quarter guidance expectations, and the move has gained strength since. Bitcoin, the world’s biggest cryptocurrency by market value, has been trading between $50,500 and $52,500 and is down 2% on the week.
As of Dec. 31, 2023, Block held approximately 8,038 BTC for investment purposes with a fair value of $340 million. The Jack Dorsey-led company made $66 million in gross profit on bitcoin sales last quarter through Cash App, a banking services platform, a 90% increase year over year. “The total sale amount of bitcoin sold to customers—which we recognize as bitcoin revenue—was $2.52 billion, up 37% year over year,” the report said.
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