Block announces proof of reserves: holds $2.2 billion in BTC, customer assets account for nearly 70%

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Amid the wave of efforts to enhance transparency in the cryptocurrency industry, Block Inc., the fintech company led by Twitter founder Jack Dorsey, released its Q1 Proof of Reserves (PoR) report on Monday, disclosing a total holding of 28,355 BTC as of the end of March, which includes customer assets. According to the third-party audited report, the value of the BTC held by Block as of the end of March 2026 was approximately $2.2 billion. This asset figure includes not only the company's own reserves but also assets held on behalf of users on its Square and Cash App platforms. Breaking down the figures, approximately 19,357 BTC (valued at $1.5 billion, accounting for 70%) of Block's holdings are customer assets, while the company's own holdings amount to 8,997 BTC (valued at approximately $692.3 million, accounting for 30%). In a statement on Monday, Block emphasized: "Investors should not have to 'trust' that their BTC is safe; they should have the right to 'verify' it themselves." The company noted that through "on-chain signatures," anyone can independently verify Block's actual BTC holdings. The statement further reiterated that these reserves are subject to rigorous substantive control and are by no means just accounting figures for historical review. Since the collapse of the cryptocurrency exchange FTX, Proof of Reserves has become a transparency standard adopted by many cryptocurrency companies to restore market confidence and dispel concerns over opaque operations. However, the industry is not without dissenting voices. Michael Saylor, founder of MicroStrategy, the public company holding the most BTC globally, stated in May last year that publishing on-chain reserve details is not a wise move, as it could invite security risks and even make the company a target for hackers, raising unnecessary cybersecurity concerns. Block is scheduled to release its full Q1 financial report on May 7. In Q4 2025, the company's net profit was $115.7 million, a significant decline compared to the $1.9 billion in the same period of 2024. Regarding stock market performance, Block's shares listed on the NYSE fell 0.49% on Monday, closing at $71.28. Despite the slight daily pullback, the stock has still gained 24.9% over the past month, benefiting from the recent recovery in the cryptocurrency market.

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Source:區塊客

Published:2026-04-28 12:28:09

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