Finance

Square’s Bitcoin Blitz: How Jack Dorsey’s Block Is Revolutionizing Payments for 4 Million Merchants

Block enabled Bitcoin payments for 4M merchants via Square, using Lightning Network, waiving fees until 2027.

byAndres Castro

November 10, 2025, 4:07 PM

The official Bitcoin logo is displayed in black against a clean, bright white background. By MDL.

Executive Summary

Block has enabled Bitcoin payments for its 4 million global merchants through the Square Bitcoin feature, allowing instant settlement via the Bitcoin Lightning Network with no transaction fees for sellers until 2027.

The integration allows businesses to accept Bitcoin at checkout and offers the option to automatically convert a portion of daily card sales into Bitcoin, aiming for seamless transactions and advanced financial management.

This initiative is part of Block’s broader strategy to expand Bitcoin adoption, which also includes advocating for de minimis tax exemptions and launching other Bitcoin-focused products like the BitKey hardware wallet and Cash App features.

The Story So Far

Block, led by CEO Jack Dorsey, is a staunch advocate for Bitcoin adoption, viewing it as a viable form of everyday money rather than solely a store of value, and has been actively developing products like BitKey and Cash App to support this vision. The company’s new Square Bitcoin feature aims to integrate cryptocurrency into mainstream commerce by enabling its 4 million merchants to accept Bitcoin payments seamlessly with instant settlements via the Lightning Network and no transaction fees until 2027, thereby empowering small businesses and expanding Bitcoin’s practical utility.

Why This Matters

Block’s widespread rollout of Bitcoin payments to 4 million Square merchants marks a significant step toward mainstream cryptocurrency adoption, particularly for small businesses, by making Bitcoin transactions as seamless and cost-effective as traditional payments through instant Lightning Network settlement and waived fees until 2027. This initiative not only enhances financial flexibility and efficiency for merchants but also further legitimizes Bitcoin’s role as an everyday transactional currency, potentially accelerating its integration into global commerce and reshaping payment processing.

Who Thinks What?

Block aims to provide its 4 million merchants globally with seamless Bitcoin payment acceptance, instant settlement via the Lightning Network, and financial flexibility, offering no transaction fees until 2027.

Jack Dorsey and Miles Suter believe that this expansion is a crucial step in integrating Bitcoin into everyday commerce, transforming it into “everyday money” rather than solely a store of value, and advocate for broader adoption through efforts like tax exemptions.

Block, the payments infrastructure firm led by Jack Dorsey, has officially enabled Bitcoin payments for its 4 million merchants globally through the Square Bitcoin feature of its point-of-sale platform. The integration, announced on Monday, allows businesses to accept Bitcoin at checkout with instant settlement via the Bitcoin Lightning Network, offering no transaction fees to sellers until 2027.

This initiative also provides merchants with the option to automatically convert a portion of their daily card sales into Bitcoin. The company aims to make Bitcoin payments as seamless as traditional card transactions, while also empowering small businesses with advanced financial management tools.

Expanding Bitcoin Adoption

Jack Dorsey emphasized that Square Bitcoin represents the first fully integrated Bitcoin payments and wallet solution for businesses. This allows sellers to both accept Bitcoin and automatically convert sales into the cryptocurrency.

The Square Bitcoin platform was initially introduced in October, with a successful demonstration of merchant acceptance at Compass Coffee, a chain located in Washington D.C. Block views this expansion as a crucial step in providing sellers with greater financial flexibility and integrating Bitcoin into everyday commerce.

Miles Suter, Block’s Head of Bitcoin Product, highlighted the company’s unique position to facilitate Bitcoin’s role as everyday money, rather than solely a store of value. He noted that the integration helps businesses future-proof their operations.

Broader Bitcoin Strategy

Beyond the Square Bitcoin feature, Dorsey has been a vocal proponent of Bitcoin adoption, advocating for a de minimis tax exemption on small Bitcoin transactions. This legislative effort aims to remove the requirement for Americans to report minor crypto transactions as capital gains.

Block has also launched other Bitcoin-focused products. Last year, the firm released BitKey, a self-custody hardware wallet. Additionally, its Cash App, a competitor to services like Venmo and PayPal, enables users to buy, sell, and transfer Bitcoin, and features a map of global merchants that accept the cryptocurrency, including those using Square Bitcoin.

Key Takeaways

The full rollout of Bitcoin payments for Square merchants marks a significant step towards mainstream adoption of the cryptocurrency, particularly for small and medium-sized businesses. By leveraging the Lightning Network and waiving fees, Block aims to simplify Bitcoin transactions and integrate them into daily commerce, aligning with Jack Dorsey’s vision for Bitcoin’s role in the global financial system.