{"id":7435,"date":"2025-04-03T19:01:41","date_gmt":"2025-04-03T19:01:41","guid":{"rendered":"https:\/\/cryptonewsdesk.com\/?p=7435"},"modified":"2025-04-03T21:40:14","modified_gmt":"2025-04-03T21:40:14","slug":"jack-dorsey-reveals-square-is-developing-support-for-bitcoin-payments","status":"publish","type":"post","link":"https:\/\/cryptonewsdesk.com\/index.php\/2025\/04\/03\/jack-dorsey-reveals-square-is-developing-support-for-bitcoin-payments\/","title":{"rendered":"Jack Dorsey Reveals Square Is Developing Support for Bitcoin Payments"},"content":{"rendered":"\n<p><strong>Jack Dorsey<\/strong>, CEO of <strong>Block Inc.<\/strong> and longtime Bitcoin advocate, has confirmed that his company is actively working to enable <strong>Bitcoin (BTC) payments<\/strong> on both <strong>Square terminals<\/strong> and the <strong>Bitkey hardware wallet<\/strong>, reinforcing his vision for Bitcoin as a usable, everyday currency \u2014 not just a store of value.<\/p>\n\n\n\n<p>In a recent interview with <em>Bitcoin News<\/em>, Dorsey expressed concern over Bitcoin becoming stagnant as merely a speculative asset, warning that the cryptocurrency would have \u201c<strong>failed<\/strong>\u201d if it cannot be used for routine transactions.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cI think if it doesn\u2019t transition to payments and find that everyday use case, it just gets increasingly irrelevant. And that\u2019s failure to me,\u201d Dorsey said.<\/p>\n<\/blockquote>\n\n\n\n<p>At the time of his comments, Bitcoin was trading at <strong>$83,078<\/strong>, down 1.8% on the day, though it continues to dominate the crypto market with a capitalization of <strong>$1.6 trillion<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Responding to Criticism<\/h3>\n\n\n\n<p>The announcement comes amid scrutiny from <strong>Adam Simecka<\/strong>, founder of <strong>Manna Bitcoin Wallet<\/strong>, who criticized Dorsey for promoting Bitcoin as a currency while <strong>failing to implement payment support<\/strong> on Block\u2019s platforms.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cIt would be a simple flip of a switch and it hasn\u2019t happened,\u201d Simecka stated, responding to Dorsey\u2019s recent interview.<\/p>\n<\/blockquote>\n\n\n\n<p>Dorsey, however, quickly responded via his official <strong>X (formerly Twitter)<\/strong> account:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cNot a simple flip of a switch but we are doing it.\u201d<\/p>\n<\/blockquote>\n\n\n\n<p>This interaction confirmed that while enabling Bitcoin payments may take more effort than perceived, it remains a priority for Block. The initiative is aimed at integrating BTC payments natively into <strong>Square\u2019s point-of-sale terminals<\/strong> and <strong>Bitkey<\/strong>, Block\u2019s self-custody Bitcoin wallet launched in December 2023.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">A Long-Term Vision for Bitcoin<\/h3>\n\n\n\n<p>Dorsey has consistently positioned himself as one of Bitcoin\u2019s most high-profile proponents. Under his leadership, Block has poured substantial resources into Bitcoin-related initiatives. In Q4 2023 alone, the company reported <strong>$2.52 billion in Bitcoin sales<\/strong>, a <strong>37% year-over-year increase<\/strong>. Additionally, Block\u2019s <strong>Cash App<\/strong> generated <strong>$66 million in gross profit<\/strong> from BTC transactions during that period.<\/p>\n\n\n\n<p>Launched as part of Dorsey&#8217;s broader vision for financial decentralization, <strong>Bitkey<\/strong> aims to give users greater control over their Bitcoin through self-custody, without compromising on user experience.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What\u2019s Next?<\/h3>\n\n\n\n<p>While no specific timeline has been announced, the confirmation that <strong>BTC payment functionality is in development<\/strong> signals a new phase for Bitcoin usability \u2014 especially across <strong>mainstream payment platforms<\/strong>. If successful, this move could significantly boost real-world adoption and bring Dorsey\u2019s goal of turning Bitcoin into a <strong>widely used currency<\/strong> closer to reality.<\/p>\n\n\n\n<p>As Bitcoin continues to evolve from an investment vehicle into a practical medium of exchange, Block\u2019s work on Square and Bitkey could be a major catalyst for change in both the crypto and payments industries.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jack Dorsey, CEO of Block Inc. and longtime Bitcoin advocate, has confirmed that his company is actively working to enable Bitcoin (BTC) payments on both Square terminals and the Bitkey hardware wallet, reinforcing his vision for Bitcoin as a usable, everyday currency \u2014 not just a store of value. In a recent interview with Bitcoin&#8230;<\/p>\n","protected":false},"author":3,"featured_media":7436,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63,70],"tags":[69,65,86],"class_list":["post-7435","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-finance","tag-bitcoin","tag-crypto","tag-market"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Jack Dorsey Confirms Bitcoin Payments Coming to Square and Bitkey Wallet<\/title>\n<meta name=\"description\" content=\"Jack Dorsey confirms Bitcoin payments are coming to Square terminals and Bitkey wallet, aiming to make BTC a practical everyday currency, not just a speculative asset.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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