Jack Dorsey, the founder and CEO of Block Inc., is once again doubling down on his long-standing belief that Bitcoin is more than just a speculative asset, noting that the crypto asset is money meant to be used in everyday life.
In a post on X, he wrote “Bitcoin is Money”, in response to Block’s ongoing efforts to transform Bitcoin from a digital store of value into practical, everyday money.
On April 27, 2026, Block, the company behind Cash App, Square, and Bitkey announced a series of significant updates designed to improve earning, spending, and self-custody of Bitcoin.
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The company is making it easier for users to accumulate Bitcoin through everyday activities which include:
- 5% Bitcoin Back Rewards: Cash App users can now earn 5% bitcoin cashback on purchases at participating Square merchants. This “Bitcoin Back” program turns everyday spending into an opportunity to stack more sats (the smallest unit of Bitcoin).
- Automatic P2P Conversion: Users can set Cash App to automatically convert peer-to-peer (P2P) payments they receive into Bitcoin.
- P2P Payments to Bitcoin on Cash App: Incoming peer-to-peer payments can now be automatically converted into Bitcoin, making it seamless to turn fiat transfers into BTC holdings.
- Upcoming NFC Tap-to-Pay and Bitcoin Toggle on Square: Block plans to demonstrate NFC tap-to-pay for Bitcoin at Bitcoin Las Vegas 2026. Merchants will soon accept Bitcoin as easily as any contactless card payment, likely settling via the Lightning Network for near-instant, low-cost transactions.
- Verifiable Proof of Reserves: Block is introducing transparent, user-verifiable Proof of Reserves for its corporate Bitcoin treasury as well as customer holdings on Cash App and Square.
These features aim to turn routine transactions into opportunities to grow Bitcoin holdings without extra effort.
Jack Dorsey’s Long-Standing Vision
Dorsey has consistently championed Bitcoin as peer-to-peer electronic cash, the original vision outlined in Satoshi Nakamoto’s 2008 whitepaper.
He has repeatedly drawn a sharp distinction between Bitcoin (“money”) and the broader “crypto” industry of speculative tokens and experiments.
His statement “bitcoin is money”, serves as both endorsement and rallying cry. Through Block, Dorsey is actively building the infrastructure (wallets, payments, merchant tools, and transparency mechanisms) needed to make Bitcoin function as a medium of exchange, not just a “digital gold” held for appreciation.
Why This Matters for Bitcoin’s Future
For Bitcoin to reach its full potential as “money,” it needs velocity actual circulation in the real economy alongside its proven role as a scarce, decentralized store of value.
Block’s initiatives address key friction points such as secure self-custody (Bitkey), incentives to spend and earn (cashback and auto-conversion), merchant acceptance (Square NFC), and trust (Proof of Reserves).
Jack Dorsey’s simple declaration cuts through the noise that Bitcoin isn’t just an investment asset or a speculative token. It is money and companies like Block are working to make that statement a daily reality for more people.
Outlook
The direction outlined by Jack Dorsey and Block Inc. signals a broader shift in how Bitcoin could evolve over the next few years. If these integrations gain traction, Bitcoin may gradually transition from a primarily held asset into a functional payment layer embedded in daily commerce.
A key factor will be user behavior. While tools like Cash App, Square, and Bitkey reduce friction, widespread adoption depends on whether users are willing to spend Bitcoin rather than hold it. Historically, many users have treated BTC as “digital gold,” limiting its circulation.