With a trailing 10-year return of more than 16,000% (as of April 20), it’s clear that Bitcoin (BTC 0.14%) has been a tremendous financial instrument for those seeking capital appreciation. But this top cryptocurrency might have just entered a new phase in its life cycle.
That’s because Block, a leading fintech enterprise, just introduced an innovative feature that might find notable adoption, which can propel the digital asset. What happens to Bitcoin in this bullish scenario?
Image source: Getty Images.
Bitcoin is starting to evolve into a medium of exchange
Block’s Square segment provides numerous financial services, hardware, and software to help small businesses succeed. Payments, of course, are a big part of the equation. Square handled $250 billion in gross payment volume in 2025.
On March 30, Square posted on X that it automatically enabled Bitcoin payments acceptance for its entire merchant base in the U.S. (excluding New York). At the end of 2023, Square had over 4 million merchants in total, most of which are surely located domestically. So, this is a major development.
This feature comes with no fees through 2026. Merchants get instant settlement with no chargeback risk. Perhaps most importantly, these Square sellers don’t actually need to hold the cryptocurrency if they don’t want to. Bitcoin sales can be received as U.S. dollars.
For Bitcoin, this is a huge moment. While the digital asset is still a fantastic long-term investment opportunity, it can now start to find more adoption as a medium of exchange that facilitates commerce.
Today’s Change
(-0.14%) $-108.41
Current Price
$77530.00
Key Data Points
Market Cap
$1.6T
Day’s Range
$77228.00 – $78567.00
52wk Range
$60255.56 – $126079.89
Volume
37B
Commerce could look different in 10 years
Square’s latest feature update might take some time to catch on. That’s because it’s a completely new and unfamiliar payment method that could require a learning curve and a longer ramp-up period.
For certain customers, paying in Bitcoin doesn’t make sense if they want to keep it as an investment asset. What’s more, some consumers will continue to transact using their credit cards, which can provide tens of billions of dollars in rewards annually, according to research from The Motley Fool.
It will be very interesting to hear any commentary that Jack Dorsey, co-founder of Block and Bitcoin advocate, provides going forward about progress related to this product launch. If the customers who spend at these merchants start using Bitcoin more, it will help to drive demand.
Additionally, it will clearly show that this cryptocurrency is a desired method of payment. That introduces another powerful catalyst, besides its standing as an attractive store of value with a scarce supply, that supports a higher price in 10 years. This could result in other payments companies choosing to integrate with Bitcoin as well, advancing its goal of becoming a widely used medium of exchange.