Should you buy block shares to increase Bitcoin revenue in the first quarter?

• block saw no reduction in the reduction in the first quarter.
• The analysts of Keybanc still see an upward potential of the share to $ 85
• block stocks have currently dropped by around 5.0 % compared to the early 2023.

Block Inc says that in the first financial quarter it has not seen any loss of value in connection with its Bitcoin Hort. Shares are traded in extended hours.

The recovery of the Bitcoin Prize helped

The increase in BTC this year rose the Bitcoin income of the FinTech company to $ 2.16 billion in the first quarter-an increase of 18 % compared to the previous year.

The gross profit from Bitcoin stocks also rose by 43 % compared to the previous quarter Letter to the shareholders . Block achieved a total gross profit of $ 770 million in its recently completed quarter-an increase of 16 % compared to the previous year.

The atmosphere of its position in Bitcoin was $ 229 million St compared to the original purchase price of $ 220 million on March 31.

Since the beginning of the year, the block share has dropped by about 5.0 % at the time of writing.

should you buy block stocks now?

Block ended the quarter with 20 million monthly active users on “Cash Card” - an increase of 34 %. At the beginning of this week K33 analyst Vetle Lunde noted The similarity of how Bitcoin develops this year and how it recovered after the Bärenmarkt from 2018-2019.

If it continued in the same way, he added, Bitcoin could be worth up to $ 45,000 in the coming weeks, which could be a significant advantage for Block Inc in terms of both financial performance and the share price.

Those who are interested in the purchase of block shares should also know that the analysts from Keybanc still see an upward potential to $ 85-an increase of about 40 % from here.

Other remarkable bulls of the financial technology company include Cathie Holz -The founder and managing director of ARK Invest.