In a recent move to integrate cryptocurrency into everyday transactions, Jack Dorsey, co-founder and CEO of Block Inc., encouraged Square merchants to explore Bitcoin payment options through the company’s platform. The invitation was shared via a post on X, where Dorsey highlighted the importance of helping local sellers adopt Bitcoin as a payment method.
Dorsey referenced a message from Aaron Hammer, a senior software engineer at Square, who indicated that merchants are able to sign up for early access to this new payment functionality. Hammer expressed enthusiasm for the initiative, noting that it could significantly enhance the selling experience with the right team supporting it. Insights from Block’s Bitcoin Design Lead revealed that this new functionality is nearing the end of its testing phase and is on track for implementation.
Back in May, Block had announced plans to implement Bitcoin payments on the Square platform by utilizing the Lightning Network, with a rollout expected in the second half of 2025, aiming to empower all eligible Square merchants by 2026. This strategy aligns with Dorsey’s long-standing vision of promoting Bitcoin as a viable means of daily transactions, rather than merely a speculative asset.
Earlier this year, Dorsey remarked that Bitcoin could become “irrelevant” without a shift towards practical payment solutions, reinforcing the necessity for a tangible everyday use case. He referenced the original Bitcoin whitepaper authored by Satoshi Nakamoto, which outlines Bitcoin’s function as a “peer-to-peer electronic cash system.”
Market reactions to these updates have seen fluctuations in cryptocurrency prices, with Bitcoin currently trading at approximately $115,364 and down by 0.68% in the past 24 hours. Meanwhile, shares of Block experienced a modest increase, rising by 0.58% in pre-market trading after closing up 2.42% at $74.63 during regular trading hours. The stock is being recognized for its strong growth potential, with analysts noting its impressive historical performance in earnings and revenue compared to other cryptocurrency-related stocks, including Coinbase Global Inc.
