Billionaire Jack Dorsey declares “Bitcoin is Money” as Block Expands Ecosystem

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Jack Dorsey said “Bitcoin is money” as his company Block rolled out a major product push across wallets and payments. It introduced a new Bitkey hardware wallet, expanded Bitcoin (BTC) features on Cash App, launched Proof of Reserves for user verification, and built a suite of mining products. The updates aim to make transacting and securing Bitcoin easier in everyday use.

Block rolls out full-stack Bitcoin push

Block’s latest announcement, published on April 27, spans multiple products designed to integrate Bitcoin into daily financial activity. At the center is an updated Bitkey hardware wallet, now equipped with a secure screen that allows users to verify and authorize transactions directly on the device.

The wallet maintains its 2-of-3 multisig setup, removes reliance on seed phrases, and even includes built-in inheritance features. Block positions the screen as a key upgrade and shifts security control fully into the user’s hands rather than external interfaces.

At the same time, Cash App is expanding Bitcoin functionality. Users can now automatically convert incoming peer-to-peer payments into Bitcoin and earn up to 5% BTC rewards when spending with Square merchants. The app has also increased withdrawal limits and removed fees on large purchases above $2,000, with an aim to make Bitcoin accumulation simpler.

Payments and transparency take center stage

Block is also pushing Bitcoin into real-world payments through Square. The company plans to demonstrate NFC tap-to-pay functionality, which would allow users to pay with Bitcoin as easily as using a contactless card. The feature relies on the Lightning Network for near-instant settlement, with Square handling backend complexity for merchants.

To address transparency concerns, Block launched Proof of Reserves across its ecosystem, including Cash App, Square, and its corporate treasury. Users can verify holdings through on-chain signatures, rather than relying on company disclosures.

The broader strategy ties together custody, payments, infrastructure, and ease of use under one ecosystem. Dorsey’s framing is correct. In the face of rampant speculation, Bitcoin becomes everyday money through obvious usability.