Jack Dorsey, the CEO of Block, Inc., a provider of mining hardware, is actively promoting Bitcoin adoption. After increasing its holdings by 108 BTC in Q2, roughly $12.6 million, the company is deepening its commitment to Bitcoin via various subsidiaries. The fintech company has introduced a set of BTC banking tools for small businesses that aspire to grow accessibility and efficiency.
Block currently holds 8,584 BTC at an average purchase, valued at almost $1 billion, positioning itself among the top public corporate holders of Bitcoin. It is expanding its Bitcoin treasury through Cash App, Square, and Bitkey.
Square is its most famous subsidiary, which deals with payment terminal technology, leveraging the Lightning Network for instant, low-fee transactions. Merchants can choose to hold bitcoin or instantly convert it into fiat currency.
In an interview with Bitcoin Magazine, Miles Suter, product lead at Block, stated, “We think Bitcoin achieves its ultimate destiny when it’s being used as everyday money. Just like Satoshi intended. I think that Bitcoin, as a global financial infrastructure that everyone can access, lets companies like Block operate in a much more global manner.”
“And I think that payments are essential to maintaining the core properties that make Bitcoin unique and ultimately will make it win in the long run,” he added.
Cash App integrates the Lightning Network for faster Bitcoin transfers while Bitkey introduces a self-custody Bitcoin hardware wallet for everyday consumers. Suter said, “We’re super excited about Lightning’s role in making Bitcoin everyday money.”
Bitley, a self-custody wallet product, is designed to democratize Bitcoin security, offering straightforward management for non-technical users. It also removes reliance on third-party custodians.
The integration of Bitcoin into Square’s ecosystem and blockchain-based technology into traditional finance is a part of a broader industry trend. It shows Block’s support in growing interest in decentralized finance, particularly for businesses that seek more transparent and cost-effective alternatives to conventional banking.
Block holds 8,584 BTC worth nearly $1 billion, making it one of the top corporate Bitcoin holders after adding 108 BTC ($12.6M) in Q2 2024.
Block’s leadership sees Bitcoin as global financial infrastructure that aligns with Satoshi’s vision, with Lightning Network enabling fast, low-cost transactions for mainstream adoption.
As per Coinpedia’s BTC price prediction, the Bitcoin price could peak at $168k this year if the bullish sentiment sustains.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Macro headwinds have catalyzed selling behaviour in the last few days, making back-to-back weekend dumps…
XRP is yet again commanding attention because the 2025 bull market intensifies. Trading at $2.37,…
XRP is once again making headlines as traders anticipate a strong breakout in the months…
Binance has announced that it banned more than 600 accounts last week for using unauthorized…
Story Highlights The live price of SUI crypto is . The SUI price is expected…
Story Highlights Solana Price Today is . Solana coin price could reach a potential high…
