Block Inc., the Jack Dorsey-led fintech company behind Square and Cash App, has published its first-quarter proof-of-reserves report, disclosing a total holding of 28,355 BTC, including customer assets.
The company disclosed Monday in the report that its total bitcoin holdings stood at 28,355 BTC (BTC), worth roughly $2.2 billion, as of the end of March 2026. The report, confirmed by third-party auditors, covers assets including those held through its corporate treasury, Square, and Cash App.
Among the total holdings, about 19,357 BTC ($1.5 billion) were held on behalf of its customers, while corporate holdings totaled 8,997 BTC, worth about $692.3 million.
“[People] shouldn’t have to trust that their bitcoin is there, they should be able to verify it,” the company said in a Monday statement. “Using on-chain signatures, anyone can independently confirm Block’s holdings. Reserves are actively controlled, not just historically observed.”
Proof-of-reserves
Many crypto firms have adopted proof-of-reserves measures following the FTX collapse to improve transparency by demonstrating onchain holdings. Michael Saylor, however, previously argued in May 2025 that publishing onchain proof-of-reserves is a “bad idea” that could pose security threats to a company.
Meanwhile, Block Inc. is expected to release its first-quarter earnings on May 7. In the fourth quarter of 2025, the company reported net income of $115.7 million, compared with $1.9 billion in the same period of 2024.
Block’s NYSE-listed shares closed 0.49% lower at $71.28 on Monday, but remained up 24.9% over the past month.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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