Key Takeaways:
- Block has introduced a new Bitkey hardware wallet, Proof of Reserves, and Cash App that includes services that accumulate Bitcoins automatically.
- Cash App users can convert money incoming into BTC, whereas Square merchants earn 5% Bitcoin rewards bonuses.
- NFC Bitcoin tap-to-pay was also previewed by Block, with an anticipated wider move toward enabling Bitcoin to be utilized in everyday business.
One of the largest updates to its Bitcoin products so far announced by Block is a combination of self-custody, payments, transparency, and merchant adoption into an ecosystem approach. Jack Dorsey and his team publicly mark their company as not only the holder of Bitcoin, but they are the developers of a consumer and institutional infrastructure surrounding the asset.
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