Block Discloses 8,883 BTC Reserves and Expands Cash App Bitcoin Features

Block detailed its proof-of-reserves for 8,883 BTC (about $681.4M), ranking it as the 14th-largest corporate holder, using on-chain signatures for transparency to boost user trust. This builds on yesterday's launches: a touchscreen Bitkey hardware wallet (2-of-3 multisig, seed-phrase free with preorders open), Cash App upgrades like automatic BTC conversions, 5% Bitcoin Back rewards for Square merchants, $10,000/day and $25,000/week withdrawal limits (no fees over $2,000), and planned zero-fee Lightning NFC payments through 2026. These steps drive retail accumulation, merchant adoption, and confidence, likely fueling modest BTC demand and Lightning growth.