Amrita Ahuja, CFO and COO of Block (SQ.US), stated in an interview on Thursday that Block's commitment to Bitcoin reflects its strategic vision for future returns.

The parent company of Square and Cash App has had a long-term partnership with the world's largest cryptocurrency Bitcoin. Earlier this year, Block stated that it would use 10% of its gross profit from Bitcoin products each month to purchase cryptocurrencies.

Ahuja said that Block's investment in Bitcoin means 'there's benefit in the future where we can move the funds at the speed of the Internet.'

'We think Bitcoin is the most likely competitor to achieve this vision because it is flexible, battle-tested, and secure,' she said.

Block's financial chief also added that Bitcoin may change the reality that many underserved consumers often have to pay the highest fees to access and transfer funds.

Like other companies focused on Bitcoin, Block holds Bitcoin on its balance sheet, which Ahuja says 'helps us understand the value of holding Bitcoin in custody.'