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Block is Distracted by Bitcoin and That’s Hurting its Bottom Line - Analyst Downgrade

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cryptonews.com

 Twitter founder Jack Dorsey's payment firm Block, formerly called Square, has seen a downgrade, dragged down by none other than bitcoin (BTC) - or rather, the company's "preoccupation" with it.

Investment bank Mizuho downgraded Block from “buy” to “neutral”, arguing that the company is significantly focused on BTC despite it contributing less than 5% of Block’s gross profit.

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