Jack Dorsey’s Square Bitcoin Payments Go Live for 4M+ Merchants

Square Bitcoin Payments Spark Crypto Retail Revolution

Jack Dorsey Powers Square Bitcoin Payments Rollout

Twitter co-founder Jack Dorsey's Square Bitcoin Payments has  made a significant step toward virtual currency adoption in the retail industry. 

Source: X

How Square Bitcoin Payments Work

Jack Dorsey's Square has introduced a new BTC payment mechanism that allows businesses to use current terminals to accept money through the Lightning Network. By giving merchants the option to accept BTC or convert it instantly to US dollars, adoption is made easier and obstacles like fees and volatility are removed. OBJ, Executive officer and head of business at Block also shared this news on his social media handle. 

Square Bitcoin Payments Could Drive Mass Adoption

Square, (now called asBlock), handles more than $200 billion in online transactions of money annually and serves more than 4 million sellers. Given the size of this merchant network, the company may act as a driving force behind the widespread adoption of crypto in US business. The company offers a merchant-services and mobile-payment platform. In December 2021, Firm changed its name to Block, Inc. for its growth and increased portfolio of companies. Its retail sales services enable retailers to create sales records, handle inventory and customer profiles, and safely accept Money.

Block Inc. Rallies After Square Bitcoin Payments News

Source: Yahoo Finance

Block Inc. surged for a fourth consecutive day, $79.27 a share after gaining a massive surge as its inclusion in the S&P 500 index improved investor sentiment. After a $55 billion merger with oil behemoth Chevron, energy business Hess Corp. will be replaced by Block, Inc. (NYSE:XYZ) as part of the S&P 500 index on Wednesday, July 23. The Giant is not just a Fintech Company but one of a major public sector firm which holds a great sum of digital gold. As of today it has 8,584 BTC in its balance sheets which is roughly worth $1.02 billion, contributing to the firm's under top ten world rank in most BTC holding companies. 

Cryptocurrency goes Mainstream Retail: The Global Trend

Recently a global leader in digital money PayPal has integrated cryptocurrency into its platform enabling users to buy, sell and store BTC along with other currencies. Microsoft offers customers to use digital currency to top up their Microsoft account. Coffee chains like Starbucks and Vanadi are accepting cryptocurrency to buy your regular Coffee. The online business store Shopify has also started taking payment in terms of BTC. Major fast food chains like KFC, Subway, Burger King , Pizza Hut are taking crypto currency as regular day transaction. Square Bitcoin Payments services are creating chaos among the crypto users and merchants.

Countries Which Allow Cryptocurrency As Legal Payment Method

In 2021, El Salvador became the first nation to recognize cryptocurrencies as legal coinage, enabling both locals and visitors to use the cryptocurrency for routine purchases, dining, and travel. President Trump has a significant impact on the US's efforts to grow its digital treasury. The nation accepts cryptocurrency as payment.Bhutan has made it possible for tourists to pay for hotel stays and other luxuries in cryptocurrencies. Thailand recently announced plans to open a cryptocurrency sandbox where visitors can exchange BTC for Thai Baht and make purchases of goods and services. Countries that accept digital gold, Ether, and other payment methods include the US, UAE, Japan, and others.

Future of Square Bitcoin Payments Beyond 2026

The price of BTC is $118,408 USD today, up 0.55% over the previous day. The usage of cryptocurrencies for public services is rapidly expanding on a global scale. The Future of money Will Be Cryptocurrency. An outspoken supporter of virtual assets, Jack Dorsey has always supported the concept of virtual coin as a native online currency. That dream becomes a reality when virtual currency can be used for regular purchases without the requirement for conversion processes or third-party apps. Square bitcoin payment for merchant use is now restricted, but in 2026, wider availability is projected. However, onboarding has already started.