Block Reports $2.2B in Bitcoin Holdings as Transparency Push Meets Mixed Financial Outlook

Block holds $2.2B in BTC, prioritizing transparency while facing weaker earnings and cautious market response.

The growing demand for transparency in crypto finance continues to shape how firms report their asset holdings. Companies tied to digital assets are increasingly opening their books after past market failures. Proof-of-reserves frameworks have become a key trust signal for users and investors. Against this backdrop, Block has released its latest Bitcoin disclosure.

Block Reports $2.2 Billion Bitcoin Position, Majority Held for Customers

Block Inc., led by Jack Dorsey, reported total Bitcoin holdings of 28,355 BTC in its first-quarter proof-of-reserves update. The stash was valued at roughly $2.2 billion as of March 2026, based on prevailing market prices.

Customer balances accounted for the majority, with 19,357 BTC, or about $1.5 billion. Corporate treasury holdings stood at 8,997 BTC, worth approximately $692.3 million. Assets span across Block’s ecosystem, including Square and Cash App.

Company statements stressed verifiability over blind trust. Users can independently confirm holdings through on-chain signatures, with reserves actively controlled rather than passively recorded.

“[People] shouldn’t have to trust that their bitcoin is there, they should be able to verify it. Using on-chain signatures, anyone can independently confirm Block’s holdings. Reserves are actively controlled, not just historically observed,” the company said.

Investor Focus Turns to Q1 Earnings After Steep Profit Fall

Proof-of-reserves gained traction after the FTX collapse, which exposed gaps in custodial transparency. Still, not everyone supports the approach. Michael Saylor previously warned that public reserve disclosures could introduce security risks.

Financial performance remains mixed. Block is set to release its Q1 earnings on May 7. In Q4 2025, net income came in at $115.7 million, sharply lower than $1.9 billion a year earlier.

Market response has been modest. Shares closed down 0.49% at $71.28 on Monday, though they remain up nearly 25% over the past month, reflecting renewed investor interest.