Execution RisksGiven choppy recent execution, investors will want to see consistent progress towards targets before ‘believing’ the 2028 numbers.
Investor ConfidenceManagement’s new messaging about Block also leaned heavily on long-dated targets, adjusted metrics, and a normalization narrative that will require several consecutive quarters of clean execution, which is something the company has not delivered consistently.
Return On InitiativesConnected ecosystem and Bitcoin efforts are viewed as low-return initiatives.