Block announces proof of reserves: holding $2.2 billion worth of Bitcoin, with nearly 70% of customer assets.

Amid the wave of efforts to increase transparency in the cryptocurrency industry, the fintech company “Block Inc.,” founded by Twitter’s Jack Dorsey, released its first quarter “Proof of Reserves (PoR)” report on Monday, revealing that as of the end of March, it held a total of 28,355 Bitcoins, including customer assets.
According to this third-party audited report, by the end of March 2026, Block’s Bitcoin holdings are valued at approximately $2.2 billion. This asset not only includes the company’s own reserves but also covers assets held in custody for users on the Square and Cash App platforms.
Looking at the details, about 19,357 Bitcoins (worth $1.5 billion, accounting for 70%) are customer assets; while the company’s own holdings amount to 8,997 Bitcoins (worth approximately $692.3 million, accounting for 30%).
In a statement on Monday, Block emphasized: “Investors should not blindly ‘trust’ that their Bitcoin is safe, but should have the right to ‘verify’ it themselves.”
The company pointed out that through “on-chain signatures,” anyone can independently verify the actual Bitcoin holdings of Block. The statement further reaffirmed that these reserves are under strict substantive control and are not merely accounting figures for historical review.
Since the collapse of cryptocurrency exchange FTX, to restore market confidence and dispel concerns about opaque operations, “Proof of Reserves” has become a transparency standard adopted by many crypto companies.
However, there are industry voices with reservations. Michael Saylor, founder of the publicly traded company Strategy that holds the most Bitcoin worldwide, stated last May that revealing on-chain reserve details is not a wise move, as it could pose security risks and even make the company a target for hackers, raising unnecessary cybersecurity concerns.
Block plans to release its full first-quarter financial report on May 7. In Q4 2025, the company reported a net profit of $115.7 million, a significant decline from $1.9 billion in the same period of 2024.