^{Chapter 3}
Using bitcoin as a financial tool

Turning daily sales into long-term
savings and stability

Chapter 1 | Chapter 2 | Chapter 3 | Chapter 4 | Bitcoin as everyday money

Using bitcoin as a financial tool

Accepting payments is just one side of the equation. For many business owners, the bigger question is what to do with those earnings once they come in. That’s where bitcoin as a savings tool comes in.

Automated conversions made simple

With Square, you can automatically convert a percentage of your daily sales into bitcoin through Bitcoin Conversions. Instead of manually logging in to make purchases, the conversion happens in the background and shows up alongside your regular sales reports. There’s no extra app to manage and no timing decisions to make — it’s a simple way to put part of your sales to work. And you can adjust the amount at any time and withdraw your funds whenever you need them.

Chapter 1 | Chapter 2 | Chapter 3 | Chapter 4 | Bitcoin as everyday money

Rafael Moya of Precision The Barber, had already been buying bitcoin and dollar cost averaging, but the manual process made it challenging. “With Bitcoin Conversions, the purchases are done for me. I love that because now I don't have to sit there in front of the computer and purchase bitcoin, on my time. Square's doing it on its own, so it's an investment for my barber company that will hopefully allow me to expand in the future.”

Nearly 49,000 Square businesses completed a bitcoin transaction through Cash App in the last three months, with more than 200,000 active over the past year. About 202,000 Square businesses currently hold bitcoin in Cash App, showing just how many are already comfortable with the digital currency. Bitcoin Conversions makes that habit easier and more consistent.

And for many business owners, at the moment bitcoin is less about day-to-day spending and more about long-term savings. The idea is to let conversions grow over time, using it only for major investments or in case of emergencies.

Chapter 1 | Chapter 2 | Chapter 3 | Chapter 4 | Bitcoin as everyday money

Sanja Vohra, from Thread Away, found that bitcoin finally gave her the structure she needed to save: “I mean, at this point, [Bitcoin Conversions] is probably the only reason why we've been able to accumulate in a very sort of steady, consistent way. It's seamless and I have a lot of flexibility in how I dial what percentage of our sales we want to convert into bitcoin.”

Businesses now hold

3.3%

of all bitcoin in circulation — a 30% year-over-year increase (River Financial)

39%

of U.S. bitcoin owners use bitcoin specifically as a hedge against inflation (Gemini)

The bottom line is this: just as you might use Square Savings¹ to prepare for taxes or set aside money for emergencies, Bitcoin Conversions offers another way to build reserves. It helps diversify your savings while keeping you in control.