The payment system utilizes the Lightning Network, which enables faster and lower-cost Bitcoin transactions, enhancing the user experience.

Following the announcement of the bitcoin payment feature, Block's shares rose by 5.81%, reaching an intraday high of $62.66, reflecting strong investor confidence.

The announcement, made on May 27, 2025, coincided with rising interest in cryptocurrencies and Bitcoin's valuation near €96,264.40.

This move aligns with CEO Jack Dorsey's advocacy for Bitcoin as a decentralized financial tool, potentially prompting competitors to consider similar integrations.

This initiative was showcased at the Bitcoin Conference 2025 in Las Vegas, where attendees demonstrated the technology by making purchases using satoshis, signaling its readiness for real-world applications.

Block Inc has announced plans to launch a bitcoin payment option on its Square platform, allowing merchants to accept bitcoin directly through Square hardware.

The rollout of the bitcoin payment option aims to provide faster payments and greater revenue control for small businesses, promoting a decentralized and low-cost monetary system.

Block has established itself as a leading public company in the crypto ecosystem, currently holding 8,584 BTC valued at approximately $935 million.

As the tenth-largest corporate holder of Bitcoin, Block's strategy emphasizes the importance of a decentralized currency for the future of the internet.

At the conference, Block facilitated a Guinness World Record attempt for the most Lightning payments in a single day, showcasing the scalability and speed of Lightning payments.

Dorsey has previously expressed concerns about Bitcoin's relevance, emphasizing that it must be actively used for payments to maintain its place in the financial ecosystem.

The increasing acceptance of Bitcoin by major companies suggests a robust future for cryptocurrency payments globally, reflecting a broader trend of digital currency adoption in commerce.