Block, the payments company co-founded by Jack Dorsey, purchased 114 bitcoin in Q1 2026 and now holds 8,997 BTC in corporate treasury. The company published a proof-of-reserves dashboard on April 28 with third-party verification and onchain cryptographic proof, marking a rare transparency move among major corporate bitcoin holders. Block’s total bitcoin responsibility—including customer holdings managed through Square and Cash App—reaches 28,355 BTC, valued at $2.2 billion at current prices.
Block’s Bitcoin Accumulation Accelerates
Block increased its corporate bitcoin position by 114 BTC during the first quarter, up from 8,883 BTC at the end of 2025. The $691 million corporate holdings represent a deliberate treasury strategy by the payments giant, which manages bitcoin both for its own balance sheet and on behalf of millions of retail customers through Cash App. The company’s total bitcoin responsibility—28,355 BTC—exceeds most institutional investors outside of MicroStrategy and Grayscale. Block’s quarterly purchases signal continued confidence in bitcoin as a long-term asset class despite macroeconomic uncertainty.
Proof-of-Reserves Snapshot Brings Transparency
Block’s dashboard publishes wallet addresses and cryptographic signatures onchain for independent verification, allowing anyone to audit the bitcoin holdings without relying solely on the company’s word. A third-party verification team confirmed the snapshot as of March 2026. Block clarified that the dashboard represents a point-in-time snapshot rather than a full solvency audit, though the company committed to publishing regular third-party reports. At $76,625.98 per bitcoin, Block’s corporate holdings are valued at approximately $691 million. The initiative addresses growing investor demand for transparency among companies holding material bitcoin reserves.
Corporate Treasury Trend Gains Momentum
Block joins a growing cohort of public companies treating bitcoin as a strategic treasury reserve. Proof-of-reserves mechanisms have become standard practice after high-profile exchange collapses exposed the risks of unaudited custody claims. By publishing onchain verification, Block signals institutional-grade custody practices and differentiates itself from competitors managing customer crypto assets. The regular audit commitment positions Block as a model for corporate bitcoin transparency, particularly critical given the company’s role as a custodian for retail bitcoin holders through Cash App.
Next Steps and Audit Timeline Unclear
Block did not specify when it will publish its next third-party audit report or name the auditing firm conducting verification. The company’s commitment to “regular” audits leaves the frequency and scope undefined. Investors will monitor whether Block maintains quarterly transparency updates or shifts to annual reporting. The dashboard launch establishes baseline accountability, but specifics on ongoing audit cadence remain a material gap for stakeholders evaluating the company’s long-term custody practices.
