Bitcoin News Today: Square Transforms Bitcoin from Speculative Asset into Merchant Staple

Square, a subsidiary of Block Inc., has introduced a fully integrated Bitcoin payment and wallet solution, marking a significant step toward mainstream adoption of cryptocurrency in retail commerce. The new offering, Square Bitcoin, allows U.S. small businesses to accept Bitcoin payments with zero processing fees for the first year, automatically convert up to 50% of daily card sales into Bitcoin, and manage digital assets alongside traditional finances through a unified dashboardtitle1^[1]. The tools, which rolled out to eligible sellers on November 10, 2025, aim to reduce barriers to crypto adoption by embedding Bitcoin functionality into existing payment systemstitle2^[2].

The platform includes three core features: , enabling merchants to accept Bitcoin at checkout without initial fees; , which automates the conversion of card sales into Bitcoin; and a integrated into Square's ecosystem, allowing sellers to buy, sell, hold, or withdraw Bitcointitle3^[3]. Early pilots of Bitcoin Conversions, launched in 2024, have already accumulated 142 Bitcoin as of October 1, 2025title4^[4]. By combining these tools with Square's existing financial services-such as instant access to funds and cost management features-the company positions Bitcoin as a practical tool for diversifying business financestitle5^[5].

The move aligns with broader market trends. Data cited by Square suggests U.S. cryptocurrency payment users are projected to grow by 82% between 2024 and 2026title6^[6]. Block CEO Jack Dorsey has long advocated for Bitcoin as a foundational currency, and the new tools reflect his vision of integrating crypto into everyday commerce. Miles Suter, Head of Bitcoin Product at Block, emphasized the initiative's focus on eliminating friction for merchants, stating, "We're making bitcoin payments as seamless as card payments while giving small businesses access to financial tools that have been exclusive to large corporationstitle7^[7]."

Regulatory constraints currently limit the service to U.S. sellers outside New York State, with international expansion pending approvaltitle8^[8]. The zero-fee promotion expires in 2027, after which a 1% processing fee will applytitle9^[9]. Despite these limitations, the rollout underscores Block's broader strategy to normalize Bitcoin as both a medium of exchange and a financial asset. The company's ecosystem already includes Cash App's trading capabilities, self-custody wallets like Bitkey, and mining initiatives such as Proto, reinforcing its commitment to Bitcoin's infrastructuretitle10^[10].

While the initiative faces challenges-including Bitcoin's price volatility and regulatory uncertainty-Square's approach addresses key pain points for merchants. By automating conversions and integrating crypto into familiar workflows, the platform reduces complexity and exposure to market fluctuations. Additionally, the lower fees compared to traditional card transactions (1.5–3.5%) could incentivize adoption, particularly for small businesses seeking cost savings.

Square's expansion into Bitcoin payments follows a competitive landscape where peers like PayPal and BitPay are also integrating crypto solutions. However, Square's non-custodial model-giving merchants full control over their Bitcoin-differentiates it by aligning with decentralized principles. As Block continues to scale its offerings, the success of Square Bitcoin may hinge on merchant education and the broader acceptance of Bitcoin as a functional currency rather than a speculative asset.