Bitcoin News Today: Block's Square Bitcoin Gamble: Scaling Crypto Amid Volatility and Earnings Woes

Block CEO Jack Dorsey has expressed optimism about the upcoming launch of Square Bitcoin, a fully integrated payment and wallet solution for businesses, while acknowledging the challenges inherent in scaling cryptocurrency adoption. The platform, set to debut on Nov. 10, aims to simplify bitcoin transactions for merchants of all sizes, building on Block's years of experimentation with the digital asset, according to a Yahoo Finance report. Dorsey's comments come as the company continues to position bitcoin as a strategic long-term investment, despite recent financial headwinds that saw Block's shares drop 13% following a Q3 earnings miss, as reported in a GuruFocus piece.

Block's foray into bitcoin began with customer demand, notably through its Cash App, which has facilitated over $58 billion in bitcoin trades since 2018. In 2020, the company began purchasing bitcoin as a corporate asset, starting with a $50 million investment—less than 1% of its total assets at the time framed as a "learning exercise" by CFO Amrita Ahuja. By 2024, Block had adopted a dollar-cost averaging strategy, reinvesting 10% of monthly gross profit from bitcoin products. As of Q2 2025, the company held 8,692 bitcoin on its balance sheet, according to a Fortune report.

The Square Bitcoin rollout represents a significant step in Block's broader vision to integrate cryptocurrency into everyday commerce. To incentivize adoption, Square is offering a $50 bitcoin reward to the first 20,000 merchants who enable its "Bitcoin Conversions" feature, aiming to lower barriers for small businesses, according to a CryptoBriefing article. The initiative aligns with Block's goal of making bitcoin transactions "seamless for everyday commerce," as Dorsey has previously advocated, per a MEXC announcement. The company is also providing zero-fee bitcoin transactions through 2026 to encourage wider participation.

However, Ahuja and Treasury Lead Neil Jorgensen caution that bitcoin's volatility remains a hurdle for institutional adoption. "We don't leverage bitcoin as our operating capital—we don't ride an emotional roller coaster with it," Jorgensen said, emphasizing a disciplined approach guided by risk parameters. Block's leadership advises finance professionals to start small, whether through cost-averaging programs or modest purchases, to build familiarity with the asset class.

The recent earnings report, which fell short of analyst expectations, has added pressure to justify continued investment in bitcoin. Block's Q3 adjusted EPS of $0.54 missed estimates by 14%, while revenue of $6.11 billion lagged behind forecasts. Despite the shortfall, the company raised its 2025 gross profit guidance to $10.24 billion, citing growth in Square and Cash App operations, according to a Cointelegraph report. Ahuja highlighted progress in Block's Bitcoin mining division, Proto, which generated its first revenue in Q3 through hardware sales.

Dorsey's optimism contrasts with broader market skepticism. JPMorgan recently noted that bitcoin's price of $68,000 remains undervalued relative to gold, but the asset's performance has remained volatile amid macroeconomic uncertainties. Block's ability to balance its bitcoin ambitions with operational profitability will be critical as it navigates regulatory scrutiny and shifting investor sentiment.