Block Reports 28,355 BTC in Bitcoin Reserves Valued at About $2.2 Billion

BlockBeats reported that on April 28, Jack Dorsey's payments company Block Inc. published its Q1 2026 Bitcoin proof-of-reserves report. The filing shows the company held 28,355 BTC as of March 31, worth roughly $2.2 billion at current prices. Block said about 19,357 BTC (around $1.5 billion) reflects customer custodial assets, while corporate holdings total 8,997 BTC (about $692 million). The reserves were verified by a third-party audit firm and relate to services including Square and Cash App. The company said users "should not rely solely on trust, but should be able to independently verify Bitcoin reserves," adding that anyone can confirm holdings via on-chain signatures. Since the FTX collapse, more crypto firms have adopted proof-of-reserves frameworks to bolster transparency. Michael Saylor has previously criticized the practice of publishing on-chain reserve addresses, citing potential security risks. Block is scheduled to report first-quarter earnings on May 7. Financial filings show net profit in Q4 2025 was $115.7 million, down from $1.9 billion in Q4 2024.