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Bitcoin Vision: How Jack Dorsey’s Block Is Building the Next Phase of Digital Currency Adoption

Jack Dorsey, the founder of Block Inc. — formerly known as Square — has emerged as one of Bitcoin’s most outspoken corporate champions. Through Block’s network of subsidiaries, including Cash App, Square, and Bitkey, Dorsey is pursuing a vision that positions Bitcoin not just as an investment asset, but as a practical currency for everyday transactions.

This ambition aligns with a growing corporate movement to integrate cryptocurrency into daily business and financial operations, a trend famously championed by Michael Saylor’s MicroStrategy. While Saylor’s strategy has centered on aggressively acquiring and holding Bitcoin as a treasury asset, Dorsey’s approach combines significant holdings with a suite of products and services designed to make Bitcoin more accessible and usable to the public.

Block’s Expanding Bitcoin Holdings and Ecosystem

According to company disclosures, Block Inc. holds 8,584 BTC on its balance sheet, purchased at an average price of approximately $30,405 per coin. At current market valuations, this amounts to nearly $1 billion in Bitcoin — a substantial investment that underscores the company’s long-term commitment to cryptocurrency.

Source: X

While this is considerably smaller than MicroStrategy’s massive 628,946 BTC holdings — worth over $74 billion at an average purchase price of $66,384.56 per coin — Block’s approach is distinct. Rather than focusing solely on amassing coins, the company is building an infrastructure of applications, merchant tools, and custody solutions to integrate Bitcoin into daily economic life.

Cash App: Bitcoin in the Hands of Millions

One of Block’s most influential tools is Cash App, which in 2024 counted more than 57 million active users. The mobile platform allows users to buy, sell, and transfer Bitcoin seamlessly. It also supports the Lightning Network, enabling faster and cheaper Bitcoin payments — a crucial step toward making crypto practical for everyday transactions.

Cash App has emerged as a major revenue driver for Block. In 2024, it generated nearly $10 billion in Bitcoin-related revenue, accounting for around 62 percent of the company’s total revenue. With an average trading fee of about 2 percent, Bitcoin sales through Cash App have become a significant profit stream. The platform also promotes dollar-cost averaging, encouraging users to invest in Bitcoin gradually rather than speculating on short-term price movements.

Square: Merchant Adoption at Scale

Block’s merchant-facing division, Square, serves over 4 million businesses in the United States and processes approximately $241 billion in payments annually. In 2025, Square began enabling merchants to accept Bitcoin through its point-of-sale systems. This feature simplifies crypto adoption for small and medium-sized businesses, eliminating technical and financial hurdles that have traditionally limited merchant participation.

Square is also developing a comprehensive Bitcoin banking solution for small businesses. This service would allow merchants to hold Bitcoin on their balance sheets, collateralize loans with Bitcoin holdings, and access other financial tools typically reserved for large corporations. The goal is to integrate Bitcoin into the everyday operations of businesses, not just as an investment asset but as working capital.

Bitkey: Making Self-Custody Accessible

In 2024, Block introduced Bitkey, a hardware wallet that uses a multi-signature security model. Unlike traditional wallets that rely on a single private key, Bitkey splits the private key into three components stored in separate locations. This approach enhances security and reduces the risk of theft or loss.

Bitkey’s design also removes the need for users to directly handle raw private keys, lowering the technical barrier for individuals unfamiliar with crypto storage practices. While Block has not released detailed sales figures, industry analysts see Bitkey as a strategic step toward expanding self-custody adoption among non-technical users — a move that strengthens Bitcoin’s decentralization ethos.

Parallel Paths: Dorsey and Saylor

Jack Dorsey’s Bitcoin strategy mirrors certain aspects of Michael Saylor’s approach at MicroStrategy. Both executives view Bitcoin as a strategic, long-term financial resource. Both promote dollar-cost averaging and advocate holding Bitcoin indefinitely, positioning it as a hedge against currency debasement and economic instability.

However, the differences are notable. MicroStrategy’s strategy is overwhelmingly focused on acquiring Bitcoin as a store of value — often described as “digital gold” — while Block’s strategy is to make Bitcoin usable. This includes building infrastructure for payments, merchant acceptance, and secure personal storage.

By pursuing this path, Block is attempting to bridge the gap between Bitcoin as a speculative asset and Bitcoin as a functioning currency. If successful, this could help accelerate mainstream adoption in ways that pure accumulation strategies cannot.

Bitcoin’s Role in a Changing Corporate Landscape

The strategies of both Block and MicroStrategy reflect a broader shift in corporate attitudes toward cryptocurrency. Once considered too volatile or niche for mainstream finance, Bitcoin is now attracting interest from companies looking to diversify assets, appeal to younger demographics, and participate in the emerging digital economy.

Large-scale adoption has been driven in part by institutional validation. The approval of multiple Bitcoin ETFs, the involvement of major payment processors, and growing regulatory clarity in several jurisdictions have made it easier for companies to engage with cryptocurrency.

Dorsey’s approach adds a crucial layer: utility. By embedding Bitcoin into widely used financial products like Cash App and Square, Block is not just betting on Bitcoin’s price — it is building pathways for everyday economic interaction. This is essential if Bitcoin is to move beyond its identity as an investment vehicle and function as a true medium of exchange.

Challenges and Future Outlook

Despite these advancements, challenges remain. Bitcoin’s price volatility continues to deter some users and businesses from adopting it for daily transactions. Regulatory uncertainty in certain markets, including potential restrictions on self-custody and transaction privacy, could also impact growth.

However, Dorsey’s consistent advocacy for open protocols and decentralization suggests that Block is prepared to adapt to evolving conditions. The company’s diversified approach — combining direct holdings with a robust product ecosystem — provides flexibility in navigating market fluctuations and regulatory changes.

If Bitcoin adoption continues to expand, companies like Block could be positioned at the center of a new financial infrastructure. This infrastructure would be less reliant on traditional banks and more integrated with global, open-source payment networks.

Conclusion

Jack Dorsey’s Block is charting a course that blends the strategic reserve model of corporate Bitcoin ownership with the infrastructure necessary to make Bitcoin a part of daily life. While MicroStrategy’s massive holdings dominate headlines, Block’s emphasis on utility could prove equally transformative.

By connecting millions of consumers through Cash App, empowering merchants with Square’s payment solutions, and securing individual holdings with Bitkey, Block is helping Bitcoin evolve from a speculative asset into a functioning, global currency.

This dual focus — investment and usability — may define the next phase of Bitcoin adoption, as more corporations move from simply holding crypto on their balance sheets to actively building the systems that make it work.

Writer @Erlin

Erlin is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

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