Jack Dorsey'S Block Has Massive Bitcoin Holdings

Jack Dorsey's Block Inc has published its first-quarter proof-of-reserves report, disclosing total $BTC holdings of 28,355 Bitcoin worth approximately $2.2 billion — one of the most detailed corporate Bitcoin transparency exercises seen from a major fintech firm to date.

Breaking Down the Holdings

The report, confirmed by third-party auditors, covers assets held across Block's corporate treasury, Cash App, and Square. Of the total, 19,357 $BTC — valued at roughly $1.5 billion — is held on behalf of customers, while 8,997 $BTC sits in the corporate treasury, currently valued at approximately $692.3 million.

According to BitcoinTreasuries.net, Block's corporate treasury stake places it as the 14th-largest corporate Bitcoin holder globally, narrowly behind Trump Media in the rankings.

Block has framed the disclosure as a direct commitment to user trust. As the company stated in its announcement: "People shouldn't have to trust that their Bitcoin is there, they should be able to verify it." The firm adds that reserves are verified via on-chain cryptographic signatures, and that anyone can independently confirm holdings — with verification running directly in the browser and no data leaving the user's device.

Proof-of-Reserves and the Broader Debate

Proof-of-reserves disclosures gained wider traction following the collapse of FTX in November 2022, which prompted much of the crypto industry to adopt transparency measures in order to rebuild user confidence. Exchanges including Binance, Kraken, OKX, Bitfinex, and Bitget have all embraced the practice since then.

Not everyone is convinced of its merits, however. Michael Saylor, executive chairman of Strategy — the largest corporate Bitcoin holder in the world — has previously argued that publishing on-chain proof-of-reserves is a security risk, warning that it exposes sensitive wallet information. Strategy itself has not issued a proof-of-reserves report.

Block's disclosure came alongside a broader set of Bitcoin product announcements, including a new Bitkey hardware wallet with a touchscreen, new Cash App features enabling automatic Bitcoin conversion on selected payments, and expanded Bitcoin payment tools for Square merchants.

Block is expected to report its Q1 2026 financial results on 7 May.

Sources:
Decrypt – Jack Dorsey's Block Discloses $2.2B Bitcoin Holdings in Q1 Proof-of-Reserves Report
The Block – Jack Dorsey's Block Reveals $2.2 Billion in Bitcoin Holdings in Q1
CoinTelegraph – Jack Dorsey's Block Launches Bitcoin Proof-of-Reserves

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