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BITCOIN
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
BITCOIN BITCOIN
A) Company Owned Bitcoin

Bitcoin investment

The Company's bitcoin investment, which is included within “Other non-current assets” on the consolidated balance sheets, is remeasured at fair value at the end of each reporting period. As of December 31, 2024 and 2023, the Company held approximately 8,485 and 8,038 bitcoins for investment purposes with a cost basis of $251.5 million and $220.0 million, respectively. The following table summarizes the changes in the Company’s bitcoin investment (in thousands, except number of bitcoin):
Amount of bitcoin
Value
Balance at December 31, 20228,038 $102,303 
Cumulative effect of adoption of ASU 2023-08— 30,511 
Remeasurement— 207,084 
Balance at December 31, 20238,038 $339,898 
Additions447 31,466 
Remeasurement— 420,918 
Balance at December 31, 20248,485 $792,282 

Bitcoin for operating purposes

The Company holds a small amount of bitcoin for operating purposes, at any time, to facilitate the purchases and sales of bitcoin on behalf of Cash App customers. The bitcoin for operating purposes is reflected on the consolidated balance sheets within “Other current assets”. The following table summarizes the changes in the Company's bitcoin for operating purposes (in thousands, except number of bitcoin):
Amount of bitcoin
Value
Balance at December 31, 2022638 $10,941 
Additions335,213 9,369,762 
Dispositions(335,467)(9,364,010)
Balance at December 31, 2023384 $16,693 
Additions158,775 9,940,634 
Dispositions(159,001)(9,941,995)
Balance at December 31, 2024158 $15,332 

Given the Company holds a small amount of bitcoin for operating purposes and such bitcoin is held for only a short period, typically less than a day, any remeasurement gains or losses on the Company's bitcoin for operating purposes were immaterial.
B) Bitcoin Held for Other Parties
The Company allows its Cash App customers to store their bitcoin in the Company’s digital wallets free of charge. The Company also holds an immaterial amount of bitcoin from select trading partners to facilitate bitcoin transactions for customers on Cash App. Other than bitcoin, the Company does not hold or store any other types of crypto-assets for customers or trading partners. The Company holds the cryptographic key information and maintains the internal recordkeeping of the bitcoin held for other parties. The Company's contractual arrangements state that its customers and trading partners retain legal ownership of the bitcoin; have the right to sell, pledge, or transfer the bitcoin; and also benefit from the rewards and bear the risks associated with the ownership, including as a result of any bitcoin price fluctuations. The customer also bears the risk of loss as a result of fraud or theft, unless the loss was caused by the Company’s gross negligence or the Company’s willful misconduct. The Company does not use any of the bitcoin custodied for customers or trading partners as collateral for any of the Company’s loans or other financing arrangements; nor does it lend or pledge bitcoin held for others to any third parties. The Company occasionally engages third-party custodians to store and safeguard bitcoin on the Company's behalf. The Company has concluded, under ASC 450-20, Loss Contingencies, that it does not have a probable loss that would require it to recognize a custodial obligation