Block CFO Says Cash App Owner’s Bitcoin Bet Is Long-Term Play

Block Inc.’s investment in Bitcoin allows the firm to learn more about what could be a “potentially transformative” technology, according to one of its top executives.

Chief Financial Officer and Chief Operating Officer Amrita Ahuja said the firm’s bet on Bitcoin is a long-term play. Block said earlier this year that it will invest 10% of gross profit from Bitcoin products each month into buying the cryptocurrency.

“We have a stake in the future, where money can move at the speed of the internet,” Ahuja said in an interview on Bloomberg Television Thursday. “We think that Bitcoin is the ...