Reinventing Money: Square’s Bold Bet on AI and Bitcoin in a Cashless Future

In the ever-evolving world of financial technology, few figures cast as long a shadow as Jack Dorsey, the co-founder of Twitter and CEO of Block, the parent company of Square. But it’s not just Dorsey steering the ship; key lieutenants like Willem Avé, Square’s product chief, are shaping the company’s ambitious vision. In a recent interview with The Verge, Avé delved into the seismic shifts driven by artificial intelligence and cryptocurrency, painting a picture of a future where traditional cash, including the humble penny, might become obsolete. This conversation comes at a pivotal time for Block, as it integrates AI tools into its Square platform and pushes Bitcoin as a mainstream payment option.

Avé’s insights highlight how AI is transforming Square’s operations, enabling smarter inventory management and personalized customer experiences for small businesses. He described AI as a “seismic shift,” not just in processing payments but in predicting consumer behavior and optimizing supply chains. For instance, Square’s new AI-driven tools, as reported in a Watcher Guru article on Block’s Q2 earnings, have contributed to a 14% profit surge, with forecasts boosted for 2025. This isn’t mere hype; it’s backed by real-world applications where merchants use AI to forecast demand and reduce waste, turning data into dollars.

Beyond AI, Avé emphasized Block’s unwavering belief in Bitcoin. He argued that cryptocurrency represents the future of money, free from the inefficiencies of fiat currencies. This aligns with Dorsey’s long-standing advocacy, where he’s positioned Block as a leader in crypto integration. Recent moves, such as launching a Bitcoin wallet for Square retailers, underscore this commitment, allowing small businesses to convert sales into cryptocurrency with zero fees until 2027, according to a report from BM Magazine.

AI’s Role in Reshaping Retail Payments

The integration of AI into Square’s ecosystem isn’t just about backend efficiencies; it’s about creating a more intuitive user experience. Avé noted in his Verge discussion how AI could eliminate friction in transactions, such as automating refunds or suggesting optimal pricing based on market trends. This builds on Block’s broader strategy, where AI tools in Square help merchants analyze sales data in real-time, a feature that has been pivotal in the company’s profit growth as detailed in the Watcher Guru piece.

Moreover, Avé touched on the potential death of the penny, arguing that in a digital economy, micro-transactions via cryptocurrency could render physical coins unnecessary. This isn’t a new idea, but it’s gaining traction amid rising inflation and the push toward cashless societies. Posts on X, formerly Twitter, echo this sentiment, with users discussing how Square’s Bitcoin initiatives could stabilize volatility by increasing steady demand and supply flows, leading to thicker markets.

Block’s rollout of Lightning Network-powered Bitcoin payments on Square, set to fully launch by 2026, further illustrates this vision. As outlined in a Cointelegraph report, this move starts later this year and aims to make Bitcoin a viable everyday currency. Avé’s comments suggest that AI will play a crucial role here, perhaps in managing transaction speeds or fraud detection, blending the two technologies seamlessly.

Bitcoin’s Push Toward Mainstream Adoption

Dorsey’s influence is unmistakable in Block’s crypto strategy. The company, formerly known as Square Inc., has been investing heavily in Bitcoin mining and related technologies. A CoinDesk article from late 2024 noted Block’s decision to ramp up Bitcoin mining investments while shuttering less promising ventures like Web5, signaling a focused bet on crypto’s core infrastructure.

Avé reinforced this in his interview, expressing belief in Bitcoin’s long-term value despite market fluctuations. He discussed how Block’s tools, like the new Bitcoin payments for millions of Square sellers, enable automatic conversion of sales into BTC with no fees, as highlighted in a Decrypt piece. This democratizes access to cryptocurrency for small businesses, potentially turning everyday transactions into crypto accumulations.

Interestingly, speculation about Dorsey’s deeper ties to Bitcoin persists. A Investopedia article revives theories that he might be Satoshi Nakamoto, Bitcoin’s pseudonymous creator, citing his cypherpunk roots and coding skills. While Avé didn’t address this directly, his enthusiasm for open-source crypto development echoes Dorsey’s efforts through initiatives like the Bitcoin Legal Defense Fund, as covered in a 2023 TechCrunch report.

Challenges and Regulatory Hurdles Ahead

Despite the optimism, Block faces significant challenges. Regulatory scrutiny on cryptocurrencies remains intense, with concerns over energy consumption in Bitcoin mining and the need for stablecoin integrations. Avé acknowledged these in his Verge talk, noting the company’s pivot toward regulated digital dollars, a shift detailed in a Financial Post article where Dorsey is described as capitulating to stablecoin booms for practical payments.

Internally, Block has had to streamline operations. The CoinDesk report mentioned earlier highlighted share dips after missing sales estimates, partly due to distractions from non-core projects. Avé’s role as product chief involves navigating these, ensuring that AI and Bitcoin integrations don’t overwhelm Square’s core point-of-sale strengths.

On X, sentiment is mixed; some posts praise Square’s Bitcoin wallet launch in October 2025 for reducing volatility, while others critique Block’s failure to scale upmarket or eliminate distractions like Tidal. These discussions underscore the high stakes, with insiders watching how Block balances innovation with profitability.

Strategic Evolution from Startup to Financial Giant

Block’s journey from a simple point-of-sale device in 2009 to a multidimensional financial services player is remarkable. A Fast Company insider look details how Dorsey transformed Square into a hub for payments, crypto, and more. Avé’s contributions are key here, focusing on user-centric products that leverage AI for seamless experiences.

In terms of Bitcoin, Block’s strategy aims to make BTC “everyday money,” as explored in a TechStock² article. This includes tools like Cash App’s profit growth through crypto features, tying back to Avé’s vision of a penny-less future where micro-payments are handled digitally.

Avé also touched on broader economic implications, such as how AI could democratize financial tools for underserved markets. This aligns with Block’s global rollout of Bitcoin payments, enabling sellers worldwide to tap into crypto without traditional banking barriers, per the Decrypt coverage.

Innovation at the Intersection of Tech and Finance

Looking ahead, Block’s 2025 forecast is bullish, driven by AI and Bitcoin synergies. The Watcher Guru earnings report projects continued growth, with Square’s AI tools enhancing merchant capabilities. Avé’s belief in Bitcoin extends to its role in open-source software, echoing Dorsey’s defense fund efforts from TechCrunch.

However, debates rage on platforms like X about Dorsey’s potential as Satoshi, with Cointelegraph’s magazine piece listing reasons for and against. While entertaining, these theories highlight the mystique surrounding Block’s crypto push.

Avé’s interview suggests that the real innovation lies in practical applications: using AI to make Bitcoin transactions as simple as swiping a card. This could indeed spell the end for the penny, as digital alternatives handle fractions of cents effortlessly.

Pushing Boundaries in a Digital Economy

Block’s investments in Bitcoin mining, as per CoinDesk, position it to influence the crypto ecosystem’s supply side. Combined with AI-driven demand predictions, this creates a closed loop for merchants, from sales to crypto holdings.

Critics, however, point to volatility risks. Yet Avé argues that education and integration will mitigate these, fostering adoption. Posts on X from industry figures like Jeff Booth praise Square’s efforts in circulating more Bitcoin, boosting economies.

Ultimately, Square under Avé and Dorsey is not just adapting to change but driving it, blending AI’s intelligence with Bitcoin’s decentralization to redefine money’s future.

The Road to a Transformed Financial System

As Block rolls out more features, like the 2026 Bitcoin payments via Cointelegraph, the focus remains on scalability. Avé’s seismic shift narrative positions AI as the enabler, automating complexities that once hindered crypto use.

In parallel, stablecoin leans, as in the Financial Post, show pragmatism, ensuring Block’s tools comply with regulations while pushing boundaries.

For industry insiders, this convergence signals a new era where fintech giants like Block could dominate, making abstract concepts like AI-optimized crypto payments tangible realities for businesses everywhere.