Jack Dorsey’s Block Inc. has taken a major step forward in its Bitcoin push, rolling out a Bitcoin payment feature and an integrated wallet for small businesses that use its Square point-of-sale (POS) system. The move is aimed at making Bitcoin easier to use for everyday transactions, not just as an investment.
Starting Wednesday, merchants on Square’s Bitcoin network will be able to accept Bitcoin (BTC) payments and convert earnings into BTC with zero fees. From November 10, businesses can opt to convert up to 50% of daily sales into Bitcoin, a significant increase from the earlier 10% limit.
The company said that transaction fees will remain zero until 2026, with a 1% fee set to begin on January 1, 2027. The feature is currently available only to U.S. merchants (excluding New York State) and is not yet open to international sellers.
Square’s built-in Bitcoin wallet allows merchants to buy, sell, hold, or withdraw BTC directly from their existing Square dashboards. The product aims to simplify crypto management for small businesses that want exposure to Bitcoin.
Making BTC “everyday money”
“We’re making Bitcoin payments as seamless as card payments, while giving small businesses access to financial management tools that, until now, have been exclusive to the largest corporations,” said Miles Suter, Block’s Head of Bitcoin Product.
Suter added that Square’s goal is to make Bitcoin “everyday money, not just a store of value,” while helping sellers adapt to future financial trends. Block described the initiative as part of its broader vision — “Simplifying Bitcoin for Main Street.”
Part of a broader Bitcoin push
The launch strengthens Jack Dorsey’s long-running Bitcoin vision. Dorsey, who left X to focus on Bitcoin projects, has repeatedly said that Bitcoin should serve as a medium of exchange rather than only a speculative asset.
Block already has 8,692 BTC on its balance sheet, ranking it among the 13 largest public Bitcoin holders globally. The company’s other products, including Cash App, already support Bitcoin trading and have released a hardware wallet, Bitkey.
Market reaction and outlook
The market responded positively to the announcement. Block’s shares (NYSE: XYZ) climbed 2.6% to $81, reaching their highest level since February, according to Yahoo Finance.
While Bitcoin’s role in retail payments remains limited, data from the Kansas City Federal Reserve shows fewer than 2% of Americans used crypto for payments in 2024—however, analysts expect adoption to grow. Research firm eMarketer projects an 82% increase in U.S. crypto payment users between 2024 and 2026.
With more than four million merchants using Square, Block’s move could mark one of the most significant attempts yet to bring Bitcoin into mainstream commerce.
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