CashApp Users Bought $7.11 Billion Worth of Bitcoin in 2022
"Bitcoin gross profit was $35 million in the fourth quarter of 2022. The total sale amount of bitcoin sold to customers, which we recognize as bitcoin revenue, was $1.83 billion."
Bitcoin gross profit was $35 million in the fourth quarter of 2022. The total sale amount of bitcoin sold to customers, which we recognize as bitcoin revenue, was $1.83 billion. Bitcoin gross profit was 2% of bitcoin revenue.
For the full year of 2022, Cash App generated $7.11 billion of bitcoin revenue and $156 million of bitcoin gross profit, down 29% and 28% year over year, respectively.
