Jack Dorsey is putting Block's entire product ecosystem behind a bold thesis: Bitcoin as everyday money. The company is rolling out initiatives across Cash App, Square, Bitkey, and its mining arm Proto to transform Bitcoin from a speculative asset into a functional currency for everyday purchases.
Block held a "Bitcoin Day" event from April 6 to 10, featuring a $1 million Bitcoin giveaway, with individual users eligible for up to $80 in BTC. Cash App had already revamped its Bitcoin features in February 2026, removing transaction markups on larger purchases and introducing Bitcoin rewards.
On March 30, Square began automatically enabling Bitcoin payment acceptance for eligible sellers, making Bitcoin the default payment option with an opt-out available.
On April 28, Block launched a public proof-of-reserves dashboard, revealing the company holds 8,883 BTC valued at approximately $616 million. The dashboard allows anyone to verify Block's Bitcoin holdings in real time. Block's stock surged 10% following the disclosure.
Block is essentially betting that Bitcoin's value proposition shifts from "digital gold" to "digital cash." No other company of Block's scale is attempting to own the entire Bitcoin experience from mining to spending.
Risks remain. Regulatory uncertainty around cryptocurrency payments varies by jurisdiction, and a hostile regulatory move in a major market could slow adoption.