Jack Dorsey says Square is working on allowing Bitcoin payments

The CEO of Block, Jack Dorsey confirms that the platform is currently working on the acceptance of Bitcoin payments on its square and bitkey terminals.

In a recent interview With Bitcoin News, Jack Dorsey said Bitcoin (BTC) will have “failed” if he ends up being just a “value store”. He highlights the importance of using Bitcoin as a currency for daily payments so that cryptocurrency remains relevant to the public.

“I think that if it does not go to payments and do not find this case of daily use, it becomes more and more out of words. And it is the failure for me,” said Dorsey in the interview.

At the time of the press, Bitcoin has to come down 1.8%. BTC is currently negotiated at $ 83,078. He managed to maintain a market capitalization of $ 1.6 billion, the most important of all cryptocurrencies circulating on the cryptography market today.

The founder of Manna Bitcoin’s portfolio, Adam Simecka, criticized Dorsey’s comments, stressing that the former Twitter CEO has still not made the Bitcoin payments available for users on Block’s Bitkey and Square Terminals.

“It would be a simple reversal of a switch and it did not happen. It should have been the follow -up conversation,” said Simecka in a job This quoted the interview with Jack Dorsey.

Dorsey responded to Simecka, declaring that it is not as simple as it would be. Despite this, he confirmed that the block of blocks is currently working to make Bitcoin payments acceptable on the platform and on Bitkey.

“This is not a simple reversal of a switch, but we do it,” said Jack Dorsey in a recent article.

Dorsey is known to be a vocal defender of Bitcoin, after having launched a Bitcoin specific hardware portfolio called Bitkey through his start-up block in December 2023. Earlier in February of last year, Block reported A profit of $ 2.52 billion in total Bitcoin sales in the fourth quarter of 2023, increasing by 37% in annual shift.

Not only that, the company’s mobile payment platform, Cash App, also generated a profit of $ 66 million compared to the sale of Bitcoin.