1. Bitcoin Needs Everyday Use

Miles emphasized that Bitcoin is at a crucial juncture, where it must evolve from being merely an asset to a widely accepted method of payment. He argued that while Bitcoin holds tremendous potential with its vast market cap and increasing holder base, the original vision of it as "peer-to-peer electronic cash" remains largely unrealized. For Bitcoin to fulfill its mission, it needs to be integrated into daily transactions, making it viable for everyday use rather than just a store of value.

2. Block's Commitment to Bitcoin Development

Miles highlighted Block's long-standing commitment to enhancing Bitcoin's ecosystem. He noted that the company has consistently taken early and principled bets on Bitcoin, demonstrating their belief through actionable initiatives. This includes introducing Bitcoin payments on Cash App, supporting open-source development through Spiral, and establishing the Crypto Open Patent Alliance to protect innovation. Such steps show a dedication not just to Bitcoin as an investment, but as a foundational technology.

3. Lightning Network Enhances Bitcoin Usability

According to Miles, the Lightning Network is pivotal for making Bitcoin practical and accessible for regular transactions. He revealed that Block operates one of the top Lightning nodes globally and has successfully integrated this capability into Cash App, witnessing substantial growth in the volume of Lightning payments. This infrastructure supports the vision of seamless transactions, which are crucial for Bitcoin to be accepted as a currency by businesses and consumers alike.

4. Bitcoin Payments for Square Businesses

Miles announced that Block is taking a significant step forward by enabling Square businesses to accept Bitcoin directly through their point-of-sale systems. This new feature eliminates complicated workarounds, effectively normalizing Bitcoin payments alongside traditional methods. By promoting easy, seamless Bitcoin transactions, Block is actively working to position Bitcoin as a practical option for everyday purchases, which is essential for wider adoption.

5. Empowering Small Businesses with Bitcoin

Miles stressed that access to Bitcoin tools is vital for small businesses, empowering them to manage their finances better in today's economic landscape. He detailed how Square will allow businesses to dollar-cost average into Bitcoin and automate conversions based on their sales. This initiative means businesses can not only protect against inflation but also signal their commitment to Bitcoin and the underlying values it represents.

6. Bitcoin as an Essential Internet Currency

Miles articulated a compelling vision in which he sees Bitcoin as the native currency of the internet, free from gatekeepers and political influences. He warned that without real-world use of Bitcoin, we risk losing its essence as permissionless money. Payments are critical in reinforcing Bitcoin's value—not just for the market, but for individual freedom and autonomy within the financial landscape.

7. Collaboration Over Competition in Bitcoin

In his remarks, Miles made an important point about the collaborative environment in the Bitcoin community. He noted that competitors in the Bitcoin ecosystem also serve as collaborators, and as the industry grows, all participants benefit. This spirit of cooperation serves to strengthen the entire network and highlights the shared goal among innovators to create a more free and fair financial system.