Block CEO Jack Dorsey has urged Cash App users to activate a newly launched Bitcoin bonus program that pays rewards for holding the cryptocurrency on the payments platform. The feature allows eligible users to earn Bitcoin without locking up their existing holdings.

According to the announcement referenced by Dorsey, App's Bitcoin bonus lets users earn up to 2% annually in BTC, adding a potential new source of rewards for customers who already store the cryptocurrency in their Cash App accounts. Cash App sits within Block's consumer payments ecosystem, making the app a direct distribution channel for the company's Bitcoin-related services.

How the program works

Cash App has designed the bonus as a passive rewards feature. After opting in, users continue to hold their Bitcoin and receive rewards on a weekly basis.

The company says participation does not require users to lend their Bitcoin, stake their holdings, move the cryptocurrency into another product, or accept a lockup period. Under this structure, users retain access to their Bitcoin and can withdraw it whenever they choose, according to the announcement. That setup differs from yield programs in which platforms lend out customer assets, where returns and access to funds depend on third-party borrowers.

Dorsey signals support

Dorsey signaled his backing for the feature by posting “turn it on” while sharing Cash App's announcement of the Bitcoin bonus. His comment underscores Block's broader push to expand Bitcoin-related services across its consumer payments ecosystem. Dorsey has been one of Bitcoin's most prominent corporate advocates, and the bonus program extends that positioning to Cash App's user base.

The feature also reflects a wider effort among financial and cryptocurrency platforms to make Bitcoin ownership more useful than simple price exposure. Reward programs can offer users an added incentive to keep assets within an application.

What users should consider

The advertised annual rate of up to 2% does not guarantee that every user will receive the maximum rate. Eligibility, program terms, and other conditions can affect the rewards available to individual users, so the rate a given account earns is determined by those terms rather than by the headline figure.

Users should also distinguish the bonus from returns generated by Bitcoin's market price. Because the bonus is paid in BTC, its dollar value can rise or fall with the cryptocurrency's price. The announcement gives Cash App users another Bitcoin-related option, while the underlying risks of holding a volatile asset remain unchanged.

Source: CryptoMeter io