Square Goes All-In on Bitcoin: Merchants Now Accepting Crypto!

Hold onto your hats, folks! Jack Dorsey's Square, part of Block, Inc., just kicked off a game-changer. They're now onboarding merchants to accept Bitcoin payments, and it's happening live!

BTC Rollout: From Limited to Full Throttle

Jack Dorsey himself spilled the beans on July 23 over on X. This is just the first wave of a massive push to get Bitcoin (BTC) flowing through Square terminals. A select group of sellers are diving in right now, but get ready—things are set to explode by 2026!

And guess what? They're using the Bitcoin Lightning Network to make transactions lightning-fast and dirt-cheap. Merchants can choose to hold onto their Bitcoin or flip it to cash instantly. Early birds are already tapping into this feature, which got its first sneak peek at the Bitcoin 2025 conference in Vegas.

Square's Big Plan: Small Shops to Big Retail

Square's not messing around. This setup is tailor-made for everyone from your local coffee shop to big-box retailers. They're slashing those pesky payment processing fees, which can bite into 1.5% to 3.5% of every credit card swipe. With Bitcoin, payments settle in minutes and cost way less.

But wait, there's more! This rollout is just one piece of Block's grand Bitcoin strategy. They're sitting on a stash of 8,584 BTC, rolling out a self-custody wallet called Bitkey, and even diving into Bitcoin mining. Plus, they're putting 10% of their Bitcoin profits back into monthly BTC buys.

Pushing for Change: Regulations and Tax Breaks

Block's not just playing the game—they're trying to change the rules. They're all in for a federal licensing framework for digital assets and tax breaks for small Bitcoin transactions. With the Digital Asset Market Clarity Act passing the U.S. House on July 17, their proposals are picking up steam.

Square's stepping into a ring with heavyweights like PayPal, Coinbase, and BitPay, but they've got a secret weapon: a non-custodial model that puts users in the driver's seat, fitting right into the world of decentralized finance.

Overcoming Hurdles: Making Bitcoin Easy

It's not all smooth sailing, though. Some folks still love their old-school payment methods, and plenty of merchants are scratching their heads over Bitcoin. But Block's got their back, offering automatic conversion and a setup so simple even your grandma could use it.

And here's the cherry on top: Block's making its debut on the S&P 500 the same day as this rollout. They're not just playing in the fintech and crypto arenas—they're owning them!