Key Point:
- Block’s Bitcoin holdings consist of 28,355 BTC with customer and corporate account balances verified through audits and blockchain technology.
- The report states that it has 19,357 BTC in customers’ accounts and 8,997 BTC in its treasury, as verified by a proof of reserve.
- Corporations expand their usage of proof-of-reserves services due to security concerns.
Bitcoin holdings of Block stood at 28,355 BTC as of the company’s recent quarterly proof-of-reserves report. The disclosure provides a full breakdown of bitcoin held across its corporate treasury and customer-related balances linked to services such as Square and Cash App.
The total assets amounted to around $2.2 billion at the reporting time. The report has been certified by independent auditors and features a new on-chain verification process that utilizes cryptographic signatures.
According to the company, this enables any third party to verify the existence of its reserves using blockchain data without relying solely on its internal records. This statement includes the customer’s bitcoin held by the firm, as well as the firm’s own assets.
Bitcoin Holdings by Block Company Analysis
For the 28,355 BTC held by the company, the Bitcoin holdings breakdown by Block reveals that 19,357BTC out of those were customer assets, representing about $1.5 billion. These balances are associated with users across the company’s financial platforms.
Moreover, corporate holdings accounted for 8,997 BTC, worth about $692.3 million. These assets are held within the company’s treasury.
Block stated that the reserves are actively controlled and not limited to historical records. The company said anyone can independently verify the reported balances through on-chain signatures. This approach enables real-time validation of holdings through blockchain records.
Adoption of Proof-of-Reserve Methods
Following the FTX saga, numerous cryptocurrency companies have begun implementing proof-of-reserve systems, with The Block among those that now use such a system for its Bitcoin holdings. All these revelations involve a process that is not only based on a third-party audit but also on blockchain verification, ensuring 100% coverage. In Block’s report, too, such techniques are used.
But even in this case, firms have not developed a universal practice. Strategy did not issue a proof-of-reserves report.
Strategy’s executive chairman, Michael Saylor, stated in a May 2025 statement that sharing details of on-chain reserves could constitute a security threat.
Process of Verification and Reporting Strategy
As Block stated, the verification of Bitcoin assets should not depend solely on trust. Instead, emphasis was placed on cryptographic signatures verifiable via blockchain technology.
In its report, the reserves were described as actively managed rather than passively monitored. In other words, the holdings reported are those currently held in custody.
The verification methodology uses both external audits and blockchain transparency, following trends becoming increasingly common in the crypto industry.
Bitcoin Integration Across Products
Alongside the Block Bitcoin holdings report, the company disclosed updates to its bitcoin-related services. It introduced a Bitkey hardware wallet with a touchscreen interface for verifying transactions directly.
Source: Bitcoin at Block
Cash App also rolled out a feature allowing certain users to automatically convert incoming payments into Bitcoin. This function integrates bitcoin acquisition into routine transactions processed through the platform.
In addition, Block increased customer withdrawal limits fivefold. Users can now withdraw up to $10,000 per day and $25,000 per week. These changes affect how users access and transfer their bitcoin balances.
The company also introduced a Bitcoin rewards program within its Square merchant network. The program offers 5% bitcoin cash back on eligible purchases. This feature connects Bitcoin rewards directly to payment activity processed through Square. It forms part of the company’s broader integration of bitcoin into its payment and transaction systems.
Earnings Timeline and Financial Context
Block is expected to release its first-quarter earnings on May 7, following the publication of the Block Bitcoin holdings report.
In the fourth quarter of 2025, the company reported net income of $115.7 million. This compares with $1.9 billion registered during the corresponding period in 2024. The proof-of-reserves audit highlights the aspects of asset information without any income metrics.
Conclusion
The Block Bitcoin Holdings report offers a comprehensive analysis of 28,355 BTC in customer and corporate holdings.
FAQ
What does Block Bitcoin Holdings mean?
It means all the bitcoins held by the company, whether from customers or its own reserves.
What is their number of bitcoins?
As of March 31, 2026, they owned 28,355 bitcoins, valued at approximately 2.2 billion.
Is it possible to independently verify their reserves?
Yes, as the firm claims, their reserves can be verified using on-chain signatures.
