Block Inc., led by CEO Jack Dorsey, has initiated a dollar cost averaging (DCA) program to expand its Bitcoin holdings, as detailed in a May 2 shareholder letter. The company announced its strategy of regularly purchasing Bitcoin for its balance sheet. This move coincides with a recent earnings beat by Square, a subsidiary of Block, which saw its stock increase by 7.1% in pre-market trading. The company's stock, currently at 72, experienced significant volatility, dropping to 65 before rebounding to 78 on positive earnings news.