Block, one of the leading companies in the fintech sector, made a major announcement at its latest event regarding its institutional Bitcoin holdings. Under the leadership of Jack Dorsey, the company has launched a proof-of-reserves system for both its corporate treasury and its flagship products, Cash App and Square. According to Block, this system allows anyone to verify in real time exactly how much Bitcoin the company holds directly on the blockchain.
A new era of transparency
Known as proof-of-reserves, this approach encompasses Block’s total Bitcoin assets—specifically, 8,883 BTC, valued at approximately $681.4 million. This sizeable holding makes Block the 14th largest corporate Bitcoin holder worldwide. The company emphasized in its statement that both customers and the public deserve not only assurances but also independent verification of Block’s Bitcoin reserves.
With Block’s proof-of-reserves infrastructure, anyone can track and audit the company’s Bitcoin balance on the blockchain. This system gives a transparent, real-time, and historical view of the Bitcoin under Block’s management, which the company says is intended to push industry standards for transparency even higher.
Pursuit of trust and varying approaches in crypto
After the collapse of FTX in November 2022, the question of whether crypto companies actually hold the funds they claim became a critical issue. Since then, many major crypto platforms, including Binance, Kraken, OKX, and Bitfinex, have adopted proof-of-reserves practices to reassure users that their assets are fully and securely held.
However, not all prominent Bitcoin-focused firms have embraced this model. MicroStrategy, the company with the largest corporate Bitcoin holdings, has yet to publish proof-of-reserves. Michael Saylor, chairman of MicroStrategy, stated in May 2025 that making such data public could pose security risks and potentially harm the market by exposing sensitive information.
New Bitcoin products and expanded withdrawal limits
Alongside its proof-of-reserves initiative, Block unveiled several new Bitcoin-focused innovations. Among them is the new Bitkey hardware wallet equipped with a touch screen. Additionally, select Cash App users can now choose to automatically convert incoming payments into Bitcoin, and businesses operating through Square can begin offering customers a 5% Bitcoin reward on eligible sales.
Furthermore, Block announced that it has raised Bitcoin withdrawal limits for its users by five times, allowing daily withdrawals of up to $10,000 and weekly withdrawals of up to $25,000. With these updates, Block aims to broaden the role of cryptocurrencies in everyday commerce and personal finance.
With products like Cash App, Square, and Bitkey, Block continues to drive mainstream Bitcoin adoption. The company’s latest initiatives not only foster transparency on an institutional level but also introduce new payment and product standards across the sector.
Block’s spokesperson said, “We believe customers and the public should have the means to independently verify that assets are truly under the company’s control, not just rely on good faith.”
