Jack Dorsey outlines Block’s bitcoin-centric future at first investor day in five years: ‘No longer just a payments company’

Jack Dorsey outlines Block’s bitcoin-centric future at first investor day in five years: ‘No longer just a payments company’

Executives no longer want the firm to be seen as a payments pure play. The San Francisco-based company held its first investor day in five years Wednesday, where the C-suite made their case to Wall Street that the money app, along with its crypto and music-streaming businesses, should be valued as an "ecosystem" instead. "Calling Block a payments company is like calling Amazon a bookseller," CFO Amrita Ahuja told CNBC in a phone interview. "We've grown in so many different ways across multiple dimensions." CEO and co-founder Jack Dorsey, who formerly ran Twitter, kicked off Wednesday's presentation with a keynote on the evolution of Block and bitcoin's role in it going forward. It's "difficult" to fit a company like Block into a single category, he said. "We are no longer just a payments company," Dorsey said during the livestreamed event. "A lot has changed since our last investor day." Square was founded in 2009 and made its name by creating a credit card reader for mobile phones. The company to peer-to-peer payments and bank-like products with Cash App. The firm also acquired Afterpay and Jay-Z's Tidal music streaming service. It also operates , and it offers stock and cryptocurrency trading.