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Fueling 105% growth with Bitcoin boost – savvy funds are in

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Article Summary

TLDR:

  • Block, formerly known as Square, has seen a 105% growth fueled by fintech and bitcoin.
  • Top money managers are showing interest in investing in Block stock.

From its roots as a payment solutions provider for retailers, Block has evolved into a significant player in the fintech, blockchain technology, and bitcoin sectors. The company’s portfolio includes Cash App, Afterpay, Bitkey, Spiral, Tidal, and TBD. Top money managers have taken notice of Block stock and have been increasing their holdings. With a strong earnings report in February, Block stock has been added to the list of new buys by top mutual funds, alongside other industry peers.

Analysts are optimistic about Block’s future earnings, forecasting significant growth for the company. Following a multi-year slump, Block stock found a bottom in November and has since rebounded significantly. The stock recently formed a new cup pattern and experienced a notable gain on earnings, leading to a breakout past a key buy point. Despite some seesaw action, Block stock has shown resilience and remains in the buy range.

Overall, the article highlights Block’s transformation and growth in the fintech and cryptocurrency sectors, as well as the interest from savvy funds in investing in the company.


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