Jack Dorsey, CEO of Block Inc., recently stated that Bitcoin will be considered a failure if it is used exclusively as a store of value rather than a medium for daily transactions. His comments, which circulated between October 17 and October 19, 2026, emphasize that the project's success depends on its adoption as a peer-to-peer electronic cash system.
Block Inc. has actively integrated Bitcoin into its payment infrastructure through its Square business. By late 2026, the company had made Bitcoin accessible to more than one million merchants in the United States. This strategy aligns with Dorsey's vision of integrating the cryptocurrency into ordinary financial life for everyday purchases.
Despite the CEO's focus on payments, Block maintains a significant Bitcoin treasury on its own balance sheet, currently holding approximately 8,000 BTC. Dorsey clarified that his criticism is directed at the idea of Bitcoin serving only as digital gold, rather than at the practice of holding the asset as part of a corporate treasury.
The remarks highlight a long-standing debate within the Bitcoin community between those who view the asset as a store of value, such as Michael Saylor, and those who prioritize its utility as a currency. For Block, the distinction is critical, as the company's business model relies on the widespread use of Bitcoin for payments.
