Block’s Miles Suter Advocates Bitcoin as Daily Payment Solution at Bitcoin 2026

Block’s Bitcoin Product Lead Miles Suter delivered a keynote address at Bitcoin 2026 in Las Vegas on Tuesday, April 28, 2026, emphasizing that bitcoin must function as everyday money—not just a store of value—to achieve its original vision.

“If Bitcoin doesn’t function as peer-to-peer cash, it loses the quality that makes it transformational.”

Suter framed Block’s product strategy around Satoshi Nakamoto’s vision of a “freer, fairer financial system,” positioning the company’s innovations as tools to enable global bitcoin adoption.

Block’s Aggressive Bitcoin Product Push at Bitcoin 2026

The presentation followed Block’s major product announcements on April 27, 2026, marking one of the company’s most ambitious conference rollouts to date. Key highlights included:

• Merchant Adoption Surpasses 800,000: Block now has over 800,000 Square businesses with bitcoin payments auto-enrollment enabled, with a new business activating the feature every eight seconds.
• Tap-to-Pay Bitcoin Payments: Block introduced a seamless tap-to-pay bitcoin feature using NFC hardware and the Lightning Network, eliminating QR codes and processing fees through 2026.
• Enhanced Cash App Features: Cash App now supports auto-conversion of peer-to-peer payments into bitcoin, offers a 5% Bitcoin Back rewards program at Square merchants, and increased withdrawal limits to $10,000 per day and $25,000 per week.

Bitkey Hardware Wallet: A New Standard for Self-Custody

Block debuted the Bitkey hardware wallet, featuring:

• A built-in touchscreen for transaction verification.
• 2-of-3 multisig architecture, eliminating the need for seed phrases.
• Transaction approval tied directly to the device screen, enhancing security.

“Bitcoin only works if no single company controls it.”

Suter underscored the wallet’s role in decentralizing control and empowering users with true self-custody.

Block’s Proof of Reserves: $2.2 Billion in Bitcoin Holdings

On April 27, 2026, Block published its Q1 2026 Proof of Reserves, revealing total holdings of 28,355.05 BTC, valued at approximately $2.2 billion. The breakdown included:

• Customer Holdings: 19,357.16 BTC (~$1.5 billion)
• Corporate Treasury: 8,997.89 BTC (~$696 million)

The reserves dashboard uses on-chain cryptographic signatures for public verification, ensuring real-time transparency. While praised for its transparency, analysts noted that proof-of-reserves alone does not account for liabilities or customer obligations.

Bitcoin 2026’s Focus on Transactional Utility

Suter’s keynote, titled “Living on Bitcoin,” aligned with Bitcoin 2026’s broader theme of advancing bitcoin’s use as a medium of exchange. The conference also featured dedicated sessions advocating for a de minimis tax exemption on small bitcoin transactions, further promoting its practical adoption.