{"id":4629,"date":"2026-04-29T15:15:21","date_gmt":"2026-04-29T15:15:21","guid":{"rendered":"https:\/\/tradertideinsights.com\/?p=4629"},"modified":"2026-04-29T15:15:21","modified_gmt":"2026-04-29T15:15:21","slug":"block-unveils-proof-of-reserves-for-bitcoin-holdings-and-products","status":"publish","type":"post","link":"https:\/\/tradertideinsights.com\/?p=4629","title":{"rendered":"Block Unveils Proof-of-Reserves for Bitcoin Holdings and Products"},"content":{"rendered":"<\/p>\n<ul class=\"wp-block-list\">\n<li><strong>Anyone may verify Block&#8217;s holdings independently using on-chain signatures, according to Block.<\/strong><\/li>\n<li><strong>Even though they are the largest corporation in the world holding Bitcoin, Strategy has yet to provide a proof-of-reserve.<\/strong><\/li>\n<\/ul>\n<p>Coincident with the increasing number of cryptocurrency firms demonstrating their holdings onchain, online payment provider Block has introduced proof-of-reserves for its corporate Bitcoin treasury as well as its two main products, Cash App and Square.<\/p>\n<p>After unveiling the proof-of-reserves feature and other new features in Las Vegas on Monday, the <a href=\"https:\/\/thenewscrypto.com\/jack-dorseys-block-to-join-sp-500-after-coinbases-inclusion\/\" data-wpel-link=\"internal\">Jack Dorsey<\/a>-led business said in a post on X that users should be able to verify the whereabouts of their bitcoin rather than having to believe that it is there.<\/p>\n<h3 class=\"wp-block-heading\" id=\"h-proof-of-reserves-gained-popularity\">Proof-of-Reserves Gained Popularity<\/h3>\n<p>Anyone may verify Block&#8217;s holdings independently using on-chain signatures, according to Block. It also clarified that reserves are actively managed, rather than only being observed historically. The goal of the proof-of-reserves is to confirm the 8,883 <a href=\"http:\/\/Bitcoin.org\" data-wpel-link=\"external\" target=\"_blank\" rel=\"follow noopener\">Bitcoin<\/a>, which is the fourteenth biggest Bitcoin holding among corporate treasuries, and is valued at $681.4 million, as shown on Block&#8217;s balance sheet.<\/p>\n<p>As a measure of transparency to reassure clients that their assets were fully supported, safe, and not susceptible to abuse, proof-of-reserves gained popularity after the collapse of FTX in November 2022.<\/p>\n<p>Significant cryptocurrency exchanges that have implemented proof-of-reserves disclosures include Kraken, Bitfinex, Bitget, and&nbsp;Binance. Even though they are the largest corporation in the world holding Bitcoin, Strategy has yet to provide a proof-of-reserve.<\/p>\n<p>When asked in May 2025 why his business did not use proof-of-reserves, Strategy executive chairman Michael Saylor cited security concerns about the disclosure of critical information as the reason. In addition to introducing a feature on the Cash App that enables certain customers to have payments converted into Bitcoin automatically, Block also announced a Bitkey hardware wallet with a touchscreen for transaction verification.<\/p>\n<p>The &#8216;historical average&#8217; may force Bitcoin to hit rock bottom near the $57,000 mark, according to an analyst. In addition to doubling the daily and weekly withdrawal limits to $10,000 and $25,000, respectively, Block is also rewarding Square merchants with 5% Bitcoin cash back.<\/p>\n<p>Dorsey is a leading voice in the movement to make Bitcoin payments commonplace. He has previously said that in order to preserve Satoshi Nakamoto&#8217;s original intent for Bitcoin as an electronic peer-to-peer currency system, widespread acceptance of Bitcoin payments is necessary.<\/p>\n<p><strong>Highlighted Crypto News Today:<\/strong><\/p>\n<p><a href=\"https:\/\/thenewscrypto.com\/nft-blue-chips-rally-as-prices-climb-despite-thinning-market-activity\/\" data-wpel-link=\"internal\">NFT Blue Chips Rally as Prices Climb Despite Thinning Market Activity<\/a><\/p>\n<\/p>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Anyone may verify Block&#8217;s holdings independently using on-chain signatures, according to Block. Even though they are the largest corporation in the world holding Bitcoin, Strategy has yet to provide a proof-of-reserve. Coincident with the increasing number of cryptocurrency firms demonstrating their holdings onchain, online payment provider Block has introduced proof-of-reserves for its corporate Bitcoin treasury&hellip;<\/p>\n","protected":false},"author":1,"featured_media":4630,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-4629","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/posts\/4629","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4629"}],"version-history":[{"count":0,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/posts\/4629\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/media\/4630"}],"wp:attachment":[{"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}