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bitcoin payments adoption retail
Key Points:* Block expands Bitcoin payments for U.S. retailers via Square POS.
The move signifies a significant step towards mainstreaming Bitcoin as a transaction medium, allowing small businesses to harness crypto’s utility via the Lightning Network.
Block Brings Bitcoin to U.S. Merchant Networks
In a move to enhance Bitcoin’s mainstream adoption, Block, Inc., led by Jack Dorsey, announced Bitcoin payment integration for U.S. merchants via Square POS. Using the Lightning Network, this will ensure fast and cost-efficient transactions.
As part of Block’s broader crypto strategy, this integration permits real-time BTC payments, aiming to simplify Bitcoin’s use for everyday transactions. This consists of point-of-sale management features for merchants, slashing traditional transaction fees and hastening settlement times. Speaking on this development, Miles Suter, Block’s Bitcoin Product Lead, noted:
Market reactions were largely positive, with community and developer endorsements on platforms like X/Twitter.
Market Data and Insights
Did you know? Bitcoin was created in 2009, and its first real-world transaction was for two pizzas, costing 10,000 BTC.
Bitcoin (BTC) trades currently at $105,875.34, featuring a market cap of $2.10 trillion. Despite a 24-hour decline of 2.42%, its 30-day rise is 11.88%, according to CoinMarketCap. With a circulating supply of 19,872,075 BTC, market dynamics evolve amid broader merchant adoption.