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Just caught this - Block Inc released their proof of reserves and the numbers are pretty solid. Jack Dorsey's payment company is holding around 28,355 Bitcoin worth roughly $2.2 billion as of end of Q1. Interesting breakdown though: about 19,357 BTC (worth $1.5B) belongs to clients, while Block Inc keeps 8,997 BTC (~$696M) in their own treasury.
This kind of transparency is becoming more common, and it's good to see companies actually backing up their claims with verifiable holdings. The fact that Block Inc has significant client Bitcoin holdings suggests they're running real custody operations, not just sitting on the sidelines. With Bitcoin hovering around $81K, these reserves are looking pretty substantial right now.