Bitcoin as a Currency to Live On, Not Just Hold
“Bitcoin isn’t just something to hold anymore—it’s something to live on.” That was the core message from Miles Suter, Bitcoin Product Lead at Block Inc., during his keynote at the Bitcoin 2025 Conference. Standing at the intersection of innovation and ideology, Suter argued that Bitcoin is at a crossroads: it has never been stronger with a trillion-dollar market cap, millions of holders, and even nation-state adoption talks. Yet most people use it to hold, hedge, or opt out, but rarely to live. Block believes this must change.
Block Unveils Full Bitcoin Business Stack for Merchants
Suter officially announced that Block is rolling out Bitcoin payment capability for merchants using Square POS, allowing them to accept bitcoin directly in-store. This is part of a broader initiative called the full bitcoin for business stack—covering acquiring, managing, reporting, accounting, converting, lending, and taxes. “We believe hard-working entrepreneurs deserve access to the full power of bitcoin,” he said, emphasizing that this makes Bitcoin an everyday currency for everyone.
Lightning Network Breakthrough: World Record Attempt and Key Metrics
To prove 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 demonstrate that Lightning payments are not only functional but also scalable, fast, and real. Suter revealed that Cash App already ranks among the top bitcoin on-ramps in the U.S., accounting for nearly 10% of on-chain block space at any time. In 2024, Lightning usage grew 7x. “Block runs one of the top Lightning nodes globally. And here’s what’s wild—it’s working,” he said.
Block’s Bitcoin Journey: From Balance Sheet to Everyday Payments
Block’s commitment to Bitcoin is not new. In 2020, the company put bitcoin on its balance sheet. In 2021, it co-founded the Bitcoin Clean Energy Initiative to fight the “boiling oceans” narrative. In 2022, Cash App became one of the first major platforms on Lightning. In 2023, it launched on-chain payments with Square. And in 2024, it helped defeat Craig Wright in court, “standing up for Satoshi.” Suter noted, “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.” Block is now 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. “If Bitcoin just becomes digital gold, we failed the mission. Bitcoin payments validate Bitcoin. They make it real. Bitcoin is money,” Suter concluded.