Block’s Square Enables Bitcoin Payments for Small Businesses

Block’s latest Bitcoin initiative targets the backbone of the American economy: small businesses. Through its Square point-of-sale system, merchants can now convert sales revenue into Bitcoin with zero fees, with full Bitcoin payment acceptance capabilities scheduled to launch on November 10. The integrated system will allow businesses to convert up to 50% of their daily sales revenue into Bitcoin, providing a seamless bridge between traditional commerce and cryptocurrency.

Miles Suter, Block’s Head of Bitcoin Product, emphasized the democratizing nature of the launch, stating: “We’re making Bitcoin payments as seamless as card payments while giving small businesses access to financial management tools that, until now, have been exclusive to the largest corporations.” This positioning reflects Block’s broader strategy of leveling the financial playing field while advancing Bitcoin’s utility beyond speculative asset status.

The new offering extends beyond simple payment processing to include a fully integrated Bitcoin wallet built directly into the Square product. This wallet functionality allows merchants to manage their crypto holdings without leaving the Square ecosystem, creating a unified financial management experience. The announcement described the initiative as “Simplifying Bitcoin for Main Street,” acknowledging the technical barriers that have historically prevented wider Bitcoin adoption among small businesses.

This represents the latest in a series of Bitcoin-focused developments from Block and its subsidiaries. Cash App, another Block company, has previously released Bitcoin products including the Bitkey hardware wallet. The company has even expanded into Bitcoin mining, releasing a new mining rig in August designed to reduce costs through swappable parts. This comprehensive approach demonstrates Block’s commitment to building infrastructure across the entire Bitcoin ecosystem.

The launch represents the culmination of Jack Dorsey’s long-stated vision for Bitcoin. The Twitter founder turned Block CEO has consistently advocated for Bitcoin to become “everyday money” rather than remaining primarily a store of value. Suter reinforced this vision in his statement, noting that “Square is uniquely positioned to make bitcoin everyday money, not just a store of value—while also helping sellers future-proof their operations.”

This philosophy places Block squarely in the camp of Bitcoin maximalists who believe the cryptocurrency’s true potential lies in its use as a medium of exchange. While many in the crypto space view Bitcoin primarily as digital gold—a long-term store of value similar to precious metals—Dorsey and his team are betting that practical utility in daily transactions represents the path to broader adoption and success for the world’s oldest cryptocurrency.

The market responded positively to Block’s announcement, with NYSE-listed Block shares trading 2.6% higher on Wednesday according to Yahoo Finance data. This investor enthusiasm reflects confidence in Block’s strategy of integrating cryptocurrency into its core payment offerings while expanding its Bitcoin-related product suite.

The timing of the rollout—with immediate zero-fee conversion available now and full Bitcoin acceptance capabilities coming November 10—suggests a carefully staged approach to market adoption. By allowing merchants to gradually integrate Bitcoin into their operations, Block aims to reduce implementation barriers while building momentum toward its vision of Bitcoin as a mainstream payment method. The company’s positioning of this initiative as helping businesses “future-proof their operations” indicates a long-term commitment to cryptocurrency integration that extends well beyond current market conditions.