Jack Dorsey’s Square Unleashes Bitcoin Payments for 4 Million Merchants—Banking Disruption Goes Live

Bitcoin just bulldozed another barrier to mainstream commerce.

Square's seismic shift: Dorsey's fintech empire flips the switch, letting 4 million merchants ditch fiat rails. No permission needed—just open for crypto business.

The mechanics? Brutally simple. Merchants get instant USD settlements while customers pay in satoshis. Volatility risk? Square eats it—for now. Because nothing terrifies legacy payment processors like a self-clearing network that bypasses their 3% vig.

Watch the dominoes fall as gas stations, food trucks, and indie retailers become unwitting bitcoin evangelists. The real test? Whether this accelerates real adoption—or becomes another tax headache for merchants already squeezed by credit card duopolies.

One thing's certain: when banks see settlement times measured in minutes, not days, their compliance departments will suddenly discover an urgent 'innovation' budget.

TLDR

• Over 4 million Square merchants can now accept Bitcoin payments globally.
• Bitcoin payments via Square have zero processing fees until the end of 2026.
• Lightning Network enables fast and low-cost Bitcoin transactions for all users.
• Block Inc. holds over 8,000 BTC and reported $21.9B profit in 2024.

Over 4 million merchants using Square can now accept Bitcoin as payment, marking a major change in how digital currency is used in business. Jack Dorsey’s Block Inc. has made Bitcoin easier to use for everyday transactions. Starting November 11, 2025, the rollout opens the door for Bitcoin payments across stores, restaurants, online shops, and more—directly from Square’s payment system.

Square Integrates Bitcoin Payments Across 4 Million Merchants

Block Inc., led by Jack Dorsey, has enabled bitcoin payments across its Square merchant network. The integration allows any Square user to accept Bitcoin at checkout. Merchants can activate this feature in their Square Dashboard after completing a short verification process.

Payments are fast, and merchants can choose to keep the Bitcoin or automatically convert it to U.S. dollars. This optional conversion helps reduce price volatility. Bitcoin payments will settle in seconds and appear in the merchant’s account balance almost instantly.

Block is offering zero fees on all Bitcoin transactions until the end of 2026. After that, a 1% fee will apply, which is still lower than average credit card fees that typically range from 2.5% to 3.5%.

Lightning Network Makes Bitcoin Transactions Faster and Cheaper

The rollout is powered by the Bitcoin Lightning Network. This system is designed to speed up transactions and reduce costs. Payments are processed instantly, and fees are much lower than traditional methods.

The Lightning Network also helps Bitcoin scale to handle more transactions. Merchants benefit by receiving payments quickly, with no risk of chargebacks, which can happen with credit cards. Since Bitcoin transactions are final, the system also reduces fraud.

With Bitcoin payments now built into Square’s platform, business owners do not need to use external tools or services. Everything is handled within Square, making the transition easier for both small businesses and large retailers.

Jack Dorsey’s Long-Term Bitcoin Vision Moves Forward

Jack Dorsey has long supported Bitcoin as a Core part of the internet’s future. He has called Bitcoin “the currency of the internet” and has directed Block Inc. to invest in building Bitcoin infrastructure.

Block Inc. currently holds over 8,000 BTC and has developed several Bitcoin-focused products, including the Bitkey hardware wallet. The company’s decision to enable Bitcoin payments through Square is part of its broader strategy to support open financial systems.

According to Twitter user @pete_rizzo_, known as The Bitcoin Historian, “Dorsey is making Bitcoin usable at the checkout counter, not just for investment.” The MOVE aligns with Block’s strategy to expand Bitcoin’s real-world use cases.

Bitcoin Adoption Grows as Crypto Use Rises in 2025

This development comes during a year of rising crypto usage. In 2025, global interest in blockchain payments and Bitcoin exchange-traded funds (ETFs) has grown. Bitcoin ETFs now hold over $175 billion in assets, showing strong institutional interest.

Now, with millions of merchants accepting Bitcoin, the currency may shift from a store of value to a daily payment method. Businesses using Square can now offer customers another option at checkout, and consumers can spend Bitcoin as easily as using a card.

Block Inc. reported a $21.9 billion profit in 2024, driven in part by its financial tech and crypto services. This new feature adds another use case for Bitcoin and brings the digital currency into direct contact with millions of everyday purchases.