CoinDesk Podcast Network The Blockspace Podcast: Did Jack Dorsey Fix The Bitcoin Merchant Problem?
Nov 16, 2025
Jack Dorsey pushes Bitcoin into mainstream commerce, enabling over 4 million merchants to accept it through Square and Cash App. The Lightning Network is key in slashing credit card fees, sparking debates about users' actual adoption of Bitcoin in stores. Controversy brews around BIP 177, proposing to rename Satoshis to Bitcoins, while Cash App rolls out impressive features, including a merchant map and stablecoin support. Will customers embrace the Bitcoin revolution or stick to traditional methods?
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Bitcoin At 4M Merchants
- Cash App and Square rolled out Bitcoin payments to ~4 million merchants, enabling Bitcoin acceptance at everyday stores.
- This integration signals a major push to use Bitcoin rails at retail scale and reach non-crypto users.
Bitcoin Under The Hood For Settlements
- Cash App settles transactions using Bitcoin (Lightning or mainnet) behind the scenes while showing fiat to users.
- This lets merchants avoid credit-card fees and positions Bitcoin as a low-cost settlement rail versus Visa/Amex.
Users Reluctant To Spend Bitcoin
- Some Bitcoin users won't spend coins due to psychological and tax reasons, so merchant-driven Bitcoin payments may face personal resistance.
- Credit-card rewards paying Bitcoin and the 'never spend your Bitcoin' mindset reduce frequent retail Bitcoin usage.