How Jack Dorsey's Block Inc. Is Making Bitcoin Mainstream

Block Inc. , founded by Jack Dorsey, is a financial technology company that has been deeply involved in the Bitcoin industry through its various subsidiaries. The company, which was originally called Square and was founded in 2009, started integrating Bitcoin into its technology offerings as early as 2014 through its Cash App. This app allows merchants to accept Bitcoin payments. In 2021, Square Inc. was rebranded to Block Inc. , showing its commitment to Bitcoin and its vision for a future where the Bitcoin blockchain plays a significant role. Block Inc. has 8, 584 BTC on its balance sheet, valued at almost $1 billion. The company's subsidiaries and investments, such as Cash App, Bitkey, Proto, Spiral, and Tidal, all have explicit connections to Bitcoin or blockchain systems. These companies are advancing Bitcoin adoption at various levels of the industry and have growing influence and gratitude from the Bitcoin community. In an interview with Bitcoin Magazine, Miles Suter, product lead at Block, shared insights into the company's vision for the future and Bitcoin's ideal role in it. He said that Bitcoin achieves its ultimate destiny when it's being used as everyday money, just like Satoshi intended. He also mentioned that Bitcoin as a global financial infrastructure that everyone can access lets companies like Block operate in a much more global manner. Square, one of Block's subsidiaries, is a point-of-sale (POS) system that enables merchants to accept card payments and manage operations like inventory, payroll, and business loans. The company serves four million sellers and processes $241 billion annually as of 2024. Square announced that it began rolling out Bitcoin payments for merchants at the Bitcoin Vegas conference in 2025, allowing them to accept Bitcoin seamlessly via its POS hardware. Cash App, another subsidiary of Block, is a consumer-focused digital wallet with a reported 57 million active users in 2024. It offers person-to-person payments, debit cards, stocks, and Bitcoin trading, and tax filing. Cash App reported $10 billion in Bitcoin-sourced revenue in 2024, making up 62% of its total revenue by charging ~2% per trade. Bitkey, a new hardware wallet product launched by Block, is designed specifically for Bitcoin security. The device uses a popular technology called multisignature, which decentralizes the passwords (private keys) needed to move the Bitcoin to three different devices: the Bitkey hardware, a key stored for recovery in Block's servers, and a third key encrypted with the user's credentials and stored on the user's chosen Google Drive or iCloud account.