Jack Dorsey, co-founder and executive chair of Block Inc., reaffirmed the Bitcoin-only strategy of its Cash App digital wallet service in a recent public statement.
Cash App’s Bitcoin-Only Strategy
Dorsey took to X (formerly Twitter) to emphasize Cash App’s commitment to Bitcoin, stating:
"We are Bitcoin only. And improving rapidly."
This statement came in response to a post praising Cash App’s zero-fee Bitcoin conversions for direct deposits (e.g., paychecks) and improved withdrawal limits.
Key Improvements:
Withdrawal Limits Increased:
- Daily cap: $10,000 (up from $2,000).
- Weekly cap: $25,000 (up from $5,000).
- No Fees or Spread: Users can convert deposits to Bitcoin without hidden costs.
👉 Why Bitcoin adoption is accelerating
Block’s Expanding Bitcoin Ecosystem
Dorsey’s announcement aligns with Block’s broader push into Bitcoin-related services:
- Bitcoin Treasury Dashboard (April 2025): Helps corporations manage BTC holdings.
- Self-Custody Wallet Upgrades: Enhanced security, privacy, and usability.
- Bitcoin Mining Hardware: First units expected H2 2025.
Market Impact
- BTC Price: $105,431.31 (flat, -0.03% in 24 hrs).
- Block Stock (SQ): Rose 0.14% post-market after a 2.83% daily gain.
FAQs
1. Why is Cash App focusing only on Bitcoin?
Dorsey believes Bitcoin is the future of decentralized finance, and Cash App aims to simplify BTC adoption.
2. What are the new Bitcoin withdrawal limits?
Users can now withdraw $10,000/day** and **$25,000/week, up from $2,000/$5,000 previously.
3. How does Block’s wallet improve security?
Updates include better encryption, multi-signature support, and user-friendly self-custody tools.
👉 Explore Bitcoin wallet innovations
Conclusion
Block’s Bitcoin-centric approach under Dorsey’s leadership signals strong growth potential for both Cash App and BTC adoption. With upcoming mining hardware and wallet upgrades, the company is poised to further disrupt fintech.
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