Cash App generated $1.79 billion in bitcoin revenue from April to June, a 34% plunge year-over-year, and $41 million in bitcoin gross profit, a 24% dip year-over-year.
Block also noted figures might continue to fluctuate depending on if the crypto winter darkens, scaring consumers off from risky financial moves.
Still, Dorsey, the so-called bitcoin maximalists, still see this speed bump as a mere hiccup toward a genuinely decentralized future. He said in 2021 that bitcoin changes “absolutely everything.”
“I don’t think there’s anything more important in my lifetime to work on,” Dorsey said.
