Jack Dorsey Backs Cash App’s New Bitcoin Rewards Program
Block CEO Jack Dorsey has encouraged Cash App users to activate a new Bitcoin bonus program that offers rewards for holding Bitcoin on the payments platform. The feature gives eligible users a way to earn Bitcoin rewards without locking up their existing holdings.
Cash App’s Bitcoin bonus allows users to earn up to 2% annually in BTC, according to the announcement referenced by Dorsey. The program adds another potential source of Bitcoin rewards for users who already keep the cryptocurrency in their Cash App accounts.
How the Bitcoin bonus works
The program is designed as a passive rewards feature. Users can opt in and continue holding their Bitcoin while receiving weekly rewards.
Cash App says the rewards do not require users to:
- Lend their Bitcoin
- Stake their holdings
- Move Bitcoin into another product
- Accept a lockup period
This structure means users can retain access to their Bitcoin and withdraw it when they choose, according to the announcement.
Dorsey signals support for the feature
Dorsey posted “turn it on” while sharing Cash App’s announcement of the Bitcoin bonus. His comment highlights Block’s broader focus on expanding Bitcoin-related services within its consumer payments ecosystem.
The new feature also reflects the growing effort among financial and cryptocurrency platforms to make Bitcoin ownership more useful beyond simple price exposure. Reward programs can give users an additional incentive to keep assets within an application.
What users should consider
The advertised annual reward rate of up to 2% does not mean every user will necessarily receive that maximum rate. Eligibility, program terms and other conditions can affect the rewards available to individual users.
Users should also distinguish the bonus from investment returns generated by Bitcoin’s market price. The bonus is paid in BTC, so its dollar value can rise or fall with Bitcoin’s price.
The announcement therefore gives Cash App users another Bitcoin-related option, while the underlying risks of holding a volatile cryptocurrency remain unchanged.
