Bitcoin Is More Than Digital Gold: Block's Vision at Bitcoin 2025
“Bitcoin is at a crossroads—on one hand it's never been stronger: a trillion in market cap, millions of holders, and even talk of nation-state adoption. We use Bitcoin to hold, to hedge, to opt out, but we rarely use it to live. At Block Inc., we believe that has to change.” Miles Suter, Bitcoin Product Lead at Block Inc., delivered this core message during his keynote at the Bitcoin 2025 Conference. He articulated a vision where Bitcoin is not just a store of value but the internet's native currency, emphasizing that bitcoin should be spent, not just saved.
Square POS Embraces Bitcoin: Block Launches Full Business Stack
Block officially announced bitcoin payment capability for merchants using Square POS, allowing them to accept bitcoin directly in-store. This move is part of a broader initiative called the “full bitcoin for business stack,” covering acquiring, managing, reporting, accounting, converting, lending, and taxes. Suter stated, “Hard-working entrepreneurs deserve access to the full power of bitcoin. This is what makes Bitcoin an everyday currency for everyone.”
Lightning Payment Guinness Record: Proving Bitcoin Spendability
To demonstrate the vision in action, Block helped power a Guinness World Record attempt for the most Lightning payments in a day, hosted live at the conference. The goal was to prove that Lightning payments are not just functional—they are scalable, fast, and real. The attempt showcased that bitcoin can be used for daily transactions as easily as traditional money, not merely as a store of value.
Block's Bitcoin Journey: From Balance Sheet to Defeating Craig Wright
Suter detailed Block's consistent bitcoin commitments: adding bitcoin to its balance sheet in 2020; co-founding the Bitcoin Clean Energy Initiative in 2021 to counter the “boiling oceans” narrative; making Cash App one of the first major platforms on Lightning in 2022; launching on-chain payments with Square in 2023; and helping defeat Craig Wright in court in 2024, “standing up for Satoshi.” Suter summarized: “These aren't just headlines—they're a pattern. We've made it more accessible, more secure. Now we're focused on making it usable every day.”
Current Data and Future Commitments: Profit Recycling and Merchant Adoption
Cash App ranks among the top bitcoin on-ramps in the U.S., accounting for nearly 10% of on-chain block space at any time. Lightning usage grew 7x in 2024. Block runs one of the top Lightning nodes globally. “And here's what's wild—it's working,” Suter said. Financially, Block is taking 10% of all profits from Bitcoin and adding it back to its balance sheet, and over 1,700 merchants are automatically converting part of their daily sales to Bitcoin. Suter concluded: “If Bitcoin just becomes digital gold, we failed the mission. Bitcoin payments validate Bitcoin. They make it real. Bitcoin is money.”