Bitcoin adoption is surging, with people and institutions recognizing its role in today’s economy. With the same intention, Jack Dorsey’s Square – a subsidiary of Block Inc., has taken a bold step to bring Bitcoin to small businesses.
On the 30th of March, Square announced plans to automatically enable Bitcoin payments for small businesses, pushing Bitcoin into mainstream commerce.
Providing more insights on the matter, Dorsey said,
A good sign for the crypto market?
For years, technicalities around crypto and the hassles around setup requirements have stalled many entrepreneurs from launching their businesses.
Hence, to resolve these issues, Square announced this Bitcoin payment plan. As Miles Suter – Bitcoin Product Lead at Block, Inc. put it best when he said,
This is how bitcoin as everyday money begins.
At the same time, customers can pay using Bitcoin, and sellers, in return, would still receive settlements in US dollars by default. This move aims to protect the business from the market’s ongoing price volatility.
Simply put, this move by Square is a two-way solution where customers get the choice of paying using Bitcoin while merchants get cash stability in return.
Square’s stock price and growth plans
As expected, the impact of this move was well reflected in Block Inc.’s stock price, which was trading at $57.03 at press time after a hike of 1.88%.
That said, if we look at the 2025 data, the firm recorded a year-over-year gross profit growth of 17%.
Additionally, Square also expects a 18% gross profit growth in 2026 as per its recent Investor Presentations.
Market walks on eggshells
Interestingly, this move comes at a time when the crypto market is being attacked by a lot of ongoing events and developments. Starting with the U.S.-Iran tensions, which earlier saw Bitcoin rise, but things have turned in favour of the sellers.
Additionally, the upcoming Federal Reserve meeting and the fear around rate cuts are adding more strain.
However, there is also a bigger challenge – the passage of the CLARITY Act, which, instead of coming to a compromise, is seeing friction day by day. Even Coinbase, which initially supported the proposed bill, has now backed off from the latest compromise reached on stablecoin yield.
This further coincided with a recent study by Coinbase and CoinTracker, wherein half of the users were unable to wrap their minds around crypto taxation. So, while Square steps in to boost Bitcoin’s adoption, other things, from politics to economics to policies, are still showing that a full-fledged Bitcoin adoption is still in the making.
Final Summary
- Square’s move to enable Bitcoin payments is a major and easy step to push Bitcoin into mainstream commerce.
- The two-way solution suggests that crypto is now being used not just to benefit institutions but also by users, reducing volatility risks.
