Former Twitter (now X) CEO and current CEO of Block Inc., Jack Dorsey, has announced that Bitcoin-to-Bitcoin payments are now live. The company will enable over 4 million merchants using its Square payment system to accept Bitcoin as a form of payment.
Dorsey shared the update on X, stating, “Our sellers can now receive BTC to BTC, BTC to fiat, fiat to BTC, or fiat to fiat. We have one in CashApp, all merchants (not just Square) worldwide that accept bitcoin.” This means traders worldwide can now choose their preferred settlement method without added complexity.
### Traders Go Live with Bitcoin Payments
Jack Dorsey first confirmed that his company was actively working on integrating Bitcoin payments for merchants on April 3rd. He wrote, “not a simple flip, but we are doing it.” The company provided more details on the project last month, promising that it would go live today.
The launch offers instant settlement with no fees until 2027. After this period, Block will levy a nominal fee of 1%, which is significantly lower than typical credit card rates ranging from 2.5% to 3.5%. This feature is accessible to traders via the Square dashboard and can be activated easily.
Buys are executed on the Bitcoin blockchain, making transactions transparent and traceable. Both BTC and fiat currencies are supported on the platform.
### Utilizing the Lightning Network
Block is also leveraging the Lightning Network, a Bitcoin scaling solution that facilitates almost instant transactions with minimal fees. This allows traders not only to receive Bitcoin directly but also to use auto-conversion to US dollars as a more stable option.
However, it is important to note that Bitcoin payments cannot be reversed, unlike credit cards, and there is no chargeback option. While this feature has its limitations, it significantly reduces the possibility of fraud.
### Empowering Businesses Worldwide
This project will enable millions of businesses, online shopping platforms, and major retail outlets to accept Bitcoin payments securely and safely.
Block has previously invested heavily in Bitcoin’s infrastructure, owning more than 8,000 BTC valued at around half a billion dollars. The company continues to expand its crypto ecosystem with products such as the Bitkey hardware wallet.
### Financial Performance and Market Impact
Block has recorded significant growth in both financial technology and crypto sectors. The company reported earnings of $0.54 per share in the third quarter, with a revenue of $6.11 billion—slightly below the estimated $6.312 billion. Despite this earnings gap, Square’s gross payment volume increased 12% compared to the previous year.
Market watchers believe that this Bitcoin integration will provide users and businesses with greater financial freedom through open systems.
### Bitcoin Market Bounces Back as Institutional Demand Rises
In Q3, Jack Dorsey’s Block generated $1.97 billion in Bitcoin revenue, nearly one-third of its total revenues. However, Bitcoin-related costs dropped to $1.89 billion in Q3, with the company’s 8,780 BTC holdings taking a $59 million quarterly loss.
Meanwhile, Kazakhstan plans to establish a $1 billion cryptocurrency reserve fund by 2026, using seized and repatriated assets plus proceeds from state mining activities.
Bitcoin’s price is up approximately 1.68% in the last 24 hours, with trading volume surging 39% to $74 billion. This increase in trading activity may have been driven by Strategy’s recent purchase of an additional 487 Bitcoin, worth roughly $50 million.
This marks the largest purchase by Strategy since late September 2025, bringing its total Bitcoin holdings to 641,692 BTC.
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