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Block, a leading financial technology firm chaired by Jack Dorsey, made a significant announcement regarding its corporate Bitcoin holdings at its latest event. The company has launched a real-time proof-of-reserves system that covers both Block’s treasury and its flagship products, Cash App and Square. With this rollout, Block’s actual $BTC balance can now be independently and instantly verified on the blockchain.
A new era in transparency
This proof-of-reserves initiative reveals that Block holds a total of 8,883 $BTC, currently worth approximately $681.4 million. This makes Block the 14th largest corporate Bitcoin holder globally. In its statement, Block emphasized that both customers and the general public should be able to independently audit the company’s reserves, not just rely on trust alone.
Through this new system, anyone can verify Block’s Bitcoin holdings on-chain in real time. Users can observe both current and historical asset levels, providing full transparency about Block’s $BTC custody. By taking this step, Block aims to set higher standards for transparency across the industry.
Trust in crypto and contrasting approaches
Concerns regarding crypto companies’ actual asset holdings surged after the infamous FTX collapse in November 2022. Since then, leading exchanges such as Binance, Kraken, OKX, and Bitfinex have adopted proof-of-reserves mechanisms to reassure users that their funds are intact and secure.
However, not every major Bitcoin-focused company has followed suit. MicroStrategy, which holds the largest corporate Bitcoin stash, has so far refrained from publishing proof-of-reserves. In a statement in May 2025, chairman Michael Saylor argued that disclosing such data publicly could pose security risks and potentially harm the broader market.
New Bitcoin products and increased limits
Alongside its proof-of-reserves rollout, Block also announced several Bitcoin-centric innovations. Among these is the new Bitkey hardware wallet featuring a touchscreen interface. In select markets, Cash App users will be able to automatically convert incoming payments into Bitcoin. Meanwhile, businesses using Square can now offer their customers up to 5% of purchase value back in Bitcoin rewards.
Meanwhile, Block has raised Bitcoin withdrawal limits for its customers, now allowing up to $10,000 per day and $25,000 per week in $BTC withdrawals. With these updates, the company aims to make cryptocurrencies even more accessible in daily transactions.
With products such as Cash App, Square, and Bitkey, Block continues to spearhead Bitcoin adoption in the mainstream. These initiatives contribute to establishing new standards across the industry, from corporate transparency to seamless payment solutions.
“We believe customers and the public should have the ability to independently verify that assets are truly under the company’s control, rather than relying solely on good faith,” Block stated in its announcement.