Key Takeaways
- Block announcement at Bitcoin 2026 on April 28, 2026
- Square says 800,000 companies support BTC payments, expanding functions
- Tap payment and rebate introduced to promote the conversion to daily use
- $2.2 billion in BTC reserves unveiled on-chain
Block Reveals 800,000 BTC Settlement Companies and $2.2 billion in Reserves
At the Bitcoin 2026 conference being held in Las Vegas on April 28, U.S. fintech giant Block said that more than 800,000 Square merchants have accepted bitcoin payments.
Block has also revealed that multiple products that they are repositioning bitcoin from “holding assets” to “everyday payments”, integrating payment functions, digital wallets, and return programs. It has also said they are building an ecosystem based on actual payment use.
Miles Suter, head of the Block’s bitcoin division, said on the Nakamoto stage, “If Bitcoin does not function as a peer-to-peer cash, its transformative value will be compromised,” ascertaining that its utility as a payment method will be the key to wider adoption.
The company also released its proof of reserves for the first quarter of 2026, revealing its holdings totaling 28,355.05 BTC (worth $2.2 billion or about 350 billion yen) in on-chain signatures. The disclosure is made separate for customer assets and the company’s holdings, demonstrating efforts at transparency.
