Jack Dorsey’s Square is now onboarding merchants to accept Bitcoin, marking a pivotal move for Bitcoin payments in retail. This feature allows businesses to use Square’s existing point-of-sale systems to process Bitcoin transactions via the Lightning Network. Merchants can opt to receive Bitcoin directly or convert it to dollars at the point of sale, all without needing extra hardware. Serving over 4 million sellers and processing more than $200 billion annually, Square is well-positioned to drive mainstream Bitcoin adoption in U.S. commerce. Despite limited business-level Bitcoin adoption, Square’s integration addresses previous challenges like high fees and slow confirmations, offering a fast, low-cost payment experience while retaining Bitcoin's original form. This development coincides with a strong Bitcoin bull market, with prices exceeding $118,000, fueled by ETF inflows and institutional interest. Dorsey, a strong proponent of Bitcoin as an internet currency, envisions a future where Bitcoin is used for everyday transactions, potentially transforming it from a speculative asset to a practical medium of exchange. Read more AI-generated news on: https://app.chaingpt.org/news

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