Block has introduced a new feature that lets Square merchants automatically convert a portion of their daily sales into bitcoin through Cash App. According to the company, the feature is now available in the U.S., allowing sellers to move 1% to 10% of their daily Square revenue into their personal Cash App accounts, where the funds are converted from fiat into BTC at the end of the business day.
Square sellers can now route daily revenue into bitcoin
Block founder Jack Dorsey announced the update on X, saying Square sellers can now auto-convert part of their daily sales to bitcoin. Additional details reported by TechCrunch show that the conversion happens after the business day closes, and merchants receive a confirmation once the transaction is completed.
Michael Rihani, Block’s bitcoin product lead, also shared the rollout on X. He said millions of Square sellers will be able to automatically allocate a portion of their daily sales into bitcoin using Cash App. The feature effectively gives merchants a way to build BTC exposure through operating revenue without manually purchasing the asset each time.
1% conversion fee as Block deepens bitcoin strategy
Reports indicate Square will charge a 1% fee on each conversion. For merchants interested in steady bitcoin accumulation, the feature works much like an automated dollar-cost-averaging tool, except the source of funds comes directly from daily business income rather than separate deposits.
The announcement also fits into Block’s broader bitcoin push. A day earlier, the company revealed progress on its bitcoin mining hardware efforts, upgrading its chip development from an initial 5-nanometer process to 3-nanometer technology. At the same time, Cash App generated $14.3 billion in revenue in 2023, up 34.9% from 2022. Taken together, the latest move shows Block continuing to expand its role across bitcoin payments, merchant services, consumer access, and mining infrastructure.
Overall, the new feature creates a direct bridge between fiat-based merchant revenue and bitcoin acquisition, lowering the operational barrier for businesses that want crypto exposure and further embedding bitcoin into real-world commerce flows.