{"id":87629,"date":"2026-04-29T05:01:32","date_gmt":"2026-04-29T05:01:32","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=87629"},"modified":"2026-04-29T05:01:32","modified_gmt":"2026-04-29T05:01:32","slug":"bitcoin-transparency-gets-a-boost-as-dorseys-block-unveils-reserve-proof","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=87629","title":{"rendered":"Bitcoin Transparency Gets A Boost As Dorsey\u2019s Block Unveils Reserve Proof"},"content":{"rendered":"
\n

Block is now offering 5% Bitcoin cash back at Square merchants \u2014 a detail that quietly underscores just how far Jack Dorsey\u2019s payments company has gone in tying its business to Bitcoin.<\/p>\n

The reward program was announced Monday in Las Vegas alongside a package of new features, with the centerpiece being a live proof-of-reserves system covering Block\u2019s corporate Bitcoin holdings.<\/p>\n

Anyone Can Check The Numbers<\/h2>\n

Block holds 8,883 Bitcoin<\/a> on its balance sheet, valued at roughly $680 million. That makes it the 14th-largest corporate Bitcoin holder in the world.<\/p>\n

Through on-chain signatures, the company says any member of the public can independently confirm that those coins exist and are under active control.<\/p>\n

\"\"<\/p>\n

\u201cPeople shouldn\u2019t have to trust that their crypto is there, they should be able to verify it,\u201d Block said<\/a> in a post on X. The system covers not just the corporate treasury but also two of Block\u2019s flagship products \u2014 Cash App and Square.<\/p>\n

\n

https:\/\/t.co\/pkLmTXnxkG<\/a><\/p>\n

\u2014 Bitcoin at Block (@BitcoinatBlock) April 27, 2026<\/a><\/p>\n<\/blockquote>\n

The proof-of-reserves<\/a> announcement came bundled with several other moves. Block launched a new Bitkey hardware wallet equipped with a touchscreen for verifying transactions.<\/p>\n

Cash App users will be able to have incoming payments automatically converted to BTC. Customer withdrawal limits were also raised sharply \u2014 up to $10,000 per day and $25,000 per week, five times the previous cap.<\/p>\n

A Standard The Industry Adopted After A Painful Lesson<\/h2>\n

The wider push for reserve transparency<\/a> traces back to the collapse of FTX in November 2022. After that failure shook confidence across the industry, exchanges and crypto firms began publishing proof-of-reserves as a way to show customers their funds were fully backed. Binance, Kraken, OKX, Bitfinex, and Bitget have all adopted the practice.<\/p>\n

<\/p>\n

Not everyone has followed suit. Strategy, the largest corporate holder of Bitcoin in the world, has not released any proof-of-reserves. In May 2025, executive chairman Michael Saylor said the practice was actually dangerous.<\/p>\n

According to Saylor, publishing reserve data \u201cdilutes the security of the issuer, the custodians, the exchanges and the investors.\u201d He called it \u201ca bad idea.\u201d<\/p>\n

\"\"<\/p>\n

Dorsey\u2019s Broader Push For Bitcoin Payments<\/p>\n

Block\u2019s announcements fit a pattern. Dorsey has long argued that BTC needs to become a functional payment tool, not just a store of value.<\/p>\n

He has said that wide adoption of Bitcoin payments is essential to preserving what he sees as Satoshi Nakamoto\u2019s original intent \u2014 a peer-to-peer electronic cash system.<\/p>\n

The Las Vegas event showed that vision being pushed further into Block\u2019s products. Auto-conversion of payments to Bitcoin, cashback rewards, higher withdrawal limits \u2014 each feature nudges everyday users closer to holding and spending crypto through Block\u2019s ecosystem.<\/p>\n

Featured image from Pexels, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Block is now offering 5% Bitcoin cash back at Square merchants \u2014 a detail that quietly underscores just how far Jack Dorsey\u2019s payments company has gone in tying its business to Bitcoin. The reward program was announced Monday in Las Vegas alongside a package of new features, with the centerpiece being a live proof-of-reserves system […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-87629","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/87629","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=87629"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/87629\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=87629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=87629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=87629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}