Block’s Bitcoin Product Lead Miles Suter took the Nakamoto Stage at Bitcoin 2026 in Las Vegas Tuesday morning with a transparent message: bitcoin should flow into, not simply sit nonetheless.
“If Bitcoin doesn’t perform as peer-to-peer money, it loses the standard that makes it transformational,” Suter stated, framing Block’s total product push round the concept Satoshi constructed the community so “your complete world might function on a freer, fairer monetary system.”
The presentation got here in the future after Block rolled out a wave of bitcoin-focused product bulletins on April 27, making it one of the crucial aggressive product offensives the corporate has staged at a single convention.
Service provider adoption hits 800,000 — and climbing
Suter cited dwell traction as proof the technique is working. Block now has greater than 800,000 Sq. companies with bitcoin funds auto-enrollment enabled, and a brand new enterprise is activating the function each eight seconds, he stated on stage.
The determine builds on Block’s March 2026 resolution to mechanically allow bitcoin funds for eligible U.S. Sq. sellers, a rollout that reached hundreds of thousands of retailers in a single transfer. Suter additionally unveiled a tap-to-pay bitcoin function, saying Block is on observe to make bitcoin funds on the level of sale as seamless as Apple Pay.
The system makes use of NFC {hardware} and the Lightning Community for settlement, requires no QR codes, and carries zero processing charges via 2026.
Suter outlined a future-state earnings loop: employees obtain their paycheck in Money App, convert it to bitcoin, and sweep these funds into self-custody. That imaginative and prescient ties straight into Block’s upgraded product stack introduced Monday.
Money App now presents auto-conversion of peer-to-peer funds into bitcoin, a 5% Bitcoin Again rewards program at Sq. retailers, and bitcoin withdrawal limits raised fivefold to $10,000 per day and $25,000 per week.
On the custody aspect, Block debuted a brand new Bitkey {hardware} pockets with a built-in touchscreen and 2-of-3 multisig structure, eradicating the necessity for seed phrases and tying transaction verification to the machine display screen somewhat than an exterior system.
“Bitcoin solely works if no single firm controls it,” Suter stated.
Block’s proof of reserves: $2.2 Billion in BTC
Block additionally printed its Q1 2026 Proof of Reserves on April 27, disclosing whole holdings of 28,355.05 BTC value roughly $2.2 billion. Of that whole, 19,357.16 BTC — roughly $1.5 billion — belonged to clients, whereas the corporate’s company treasury held 8,997.89 BTC valued at roughly $696 million. The reserves dashboard makes use of on-chain cryptographic signatures for public verification, and Block stated the holdings mirror energetic management somewhat than historic snapshots.
The disclosure positioned Block amongst a rising listing of companies adopting on-chain transparency measures, although analysts famous that proof-of-reserves alone doesn’t seize liabilities or buyer obligations.
Suter’s panel, titled “Residing on Bitcoin,” ran as a part of a broader convention theme pushing bitcoin towards transactional utility. A devoted session at Bitcoin 2026 can also be advocating for a de minimis tax exemption on small bitcoin transactions — a coverage that, if enacted, would take away the capital positive aspects reporting burden that at present discourages on a regular basis spending.
Jack Dorsey has argued publicly that bitcoin will fail as a know-how if it can’t perform as cash, a place Suter echoed on stage Tuesday when he stated Block’s aim is to make bitcoin “on a regular basis cash.”
