SQ - Jack Dorsey Says Block Will Allow Square Sellers To Auto Convert A Percent Of Daily Sales To Bitcoin | Benzinga
Block Inc (NYSE:SQ) CEO and Twitter co-founder Jack Dorsey has announced a new feature that enables Square merchants to automatically convert a percentage of their daily sales into Bitcoin (CRYPTO: BTC).
What Happened: On Wednesday, Dorsey took to X, formerly Twitter, to announce the new feature, stating, “Square sellers: auto-convert a percent of your daily sales to bitcoin.”
This feature, which is rolling out in the U.S. starting today, will transfer 1-10% of Square sellers' daily sales to their personal Cash App account. At the end of the day, this amount will be converted into Bitcoin. Merchants will receive a confirmation of the conversion when the transaction is complete, according to a TechCrunch article shared by Dorsey.
square sellers: auto-convert a percent of your daily sales to bitcoin: https://t.co/sMiTIZV916 pic.twitter.com/Glnt8gc2eC — jack (@jack) April 24, 2024
According to TechCrunch, Block has stated that the Bitcoin conversion feature will be available to all sole proprietors or single-member LLCs in the coming months. The company will take a 1% cut from every ...