Bitcoin adoption is increasing, with people and institutions recognizing its role in today’s economy. With the same intention, Jack Dorsey’s Square – a subsidiary of Block Inc., has taken a bold step to bring Bitcoin to small businesses.
On March 30, Square announced plans to automatically enable Bitcoin payments for small businesses, pushing Bitcoin into mainstream commerce.
Dorsey provided more insight into this issue, saying:
A good sign for the crypto market?
For years, the technicalities surrounding crypto and the hassle surrounding setup requirements have kept many entrepreneurs from starting their businesses.
Therefore, to solve these problems, Square announced this Bitcoin payment plan. Like Miles Suter – Bitcoin Product Lead at Block, Inc. said it best when he said:
This is how bitcoin starts as everyday money.
At the same time, customers can pay with Bitcoin, and in return merchants will still receive payments in US dollars by default. This move is intended to protect the company from the market’s continued price volatility.
Simply put, this move by Square is a two-way solution where customers get the choice to pay with Bitcoin, while merchants get cash stability in return.
Square’s stock price and growth plans
As expected, the impact of this move was well reflected in Block Inc.’s share price, which was trading at $57.03 at the time of writing, having risen 1.88%.
That said, looking at 2025 data, the company posted year-over-year gross profit growth of 17%.
Additionally, Square also expects gross profit growth of 18% through 2026, according to recent Investor Presentations.
Market walks on eggshells
Interestingly, this move comes at a time when the crypto market is under attack from many ongoing events and developments. Starting with the tensions between the US and Iran, which previously saw Bitcoin rise, but things have turned in favor of the sellers.
In addition, the upcoming Federal Reserve meeting and fears of rate cuts are adding further pressure.
However, there is also a bigger challenge: the passage of the CLARITY Act, which, instead of reaching a compromise, experiences friction every day. Even Coinbase, which initially supported the proposed bill, has now backed away from the latest compromise reached on stablecoin yields.
This further coincided with a recent survey by Coinbase and CoinTracker, in which half of users were unable to read up on crypto taxes. So while Square steps in to drive Bitcoin adoption, other issues from politics to economics to policy continue to show that full-fledged Bitcoin adoption is still in the works.
Final summary
- Square’s move to enable Bitcoin payments is a big and easy step toward bringing Bitcoin into mainstream commerce.
- The two-way solution suggests that crypto will now benefit not only institutions but also users, reducing volatility risks.