Block Discloses 28,355 BTC Holdings Worth $2.2 Billion in Q1 Proof-of-Reserves Report

Gate News message, April 28 — Block Inc., the fintech company behind Square and Cash App, published its first-quarter proof-of-reserves report on Monday, disclosing total bitcoin holdings of 28,355 BTC, valued at approximately $2.2 billion as of the end of March 2026.

Among the total holdings, approximately 19,357 BTC ($1.5 billion) were held on behalf of customers, while corporate holdings totaled 8,997 BTC, worth about $692.3 million. The report was confirmed by third-party auditors and covers assets held through Block's corporate treasury, Square, and Cash App.

Block emphasized the importance of transparency, stating that users "shouldn't have to trust that their bitcoin is there, they should be able to verify it." The company noted that using on-chain signatures, anyone can independently confirm Block's holdings, which are actively controlled rather than historically observed.

Block is scheduled to release its first-quarter 2026 earnings on May 7. The company's NYSE-listed shares closed 0.49% lower at $71.28 on Monday but have gained 24.9% over the past month.