Jack Dorsey’s Block (formerly Square) is making headlines for two big reasons: its stock price jumped 10% after joining the S&P 500, and its Square payment platform now lets businesses accept Bitcoin.
Bitcoin Payments Arrive at Square
Square merchants can now receive Bitcoin as payment, according to Block CEO Owen Jennings. He announced the news on X (formerly Twitter), saying the rollout is underway. This feature, initially announced in May, makes accepting Bitcoin as simple as scanning a QR code at checkout for customers.
Empowering Merchants with Bitcoin
Block’s Bitcoin product lead, Miles Suter, highlighted the benefits for businesses. He emphasized that accepting Bitcoin through Square allows small businesses to get paid faster and keep more of their revenue. The company sees this as a way to empower merchants by giving them more payment options.
Block’s Stock on the Rise
Block’s stock price is currently around $79.50, a slight increase for the day. The addition to the S&P 500 significantly boosted the stock price, which was at $66 on July 15th.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in any cryptocurrency.
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