They make lots of sats on that too
Not from the spread on buying the #bitcoin, but because folks pay extra to withdraw within the next block
Folks gotta reduce their time preference
CashApp sold $7.11 billion worth of bitcoin to users in 2022.
The overwhelming majority appears to have been withdrawn to self custody.
Full Shareholder Letter: https://s29.q4cdn.com/628966176/files/doc_financials/2022/q4/Block_Shareholder-Letter-4Q22.pdf
They make lots of sats on that too
Not from the spread on buying the #bitcoin, but because folks pay extra to withdraw within the next block
Folks gotta reduce their time preference
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