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Bro the moat is the bitcoin they hold on their balance sheet
From financial services standpoint they are ahead! Way ahead. If banking regulations loosen up cash app can easily transition to a bitcoin economy. This is why I loaded up on block shares.
They hold very little relative to the size of the business.
Stock might be a decent value at these levels.
Yeah they didn’t go crazy with it but look at their competitors (PayPal, SoFi, Robinhood) they have way more bitcoin then they do and plus they have the POS business. If Bitcoin ever becomes a MOE they have the corn and the tech to capture fees paid with bitcoin.
Is holding bitcoin a moat if anyone can buy bitcoin?
If no one else will, sure.
Yeah because bitcoin they buy and hold is bitcoin another company can’t access.
I used to be a Block shareholder. Results have been disappointing for some years now. No moat anymore.