Twitter CEO’s Cash App Pays $6 in Bitcoin Fees for Each $1 Transaction App Users Make

The Square Cash app owned by Twitter CEO Jack Dorsey will go to great lengths to smooth the onboarding process for its Bitcoin users.

When a Cash app user sent 12 different transactions worth $1 each, the app covered the $6 fees required to get his transaction included in the next block – each time.

That means the owners and operators of the Cash App paid $72 to move their user’s $12 worth of Bitcoin.

The Square App

Square Cash App Subsidizes Bitcoin Use?

As revealed by crypto-podcaster Collin Enstad on Twitter, Cash App users appear to have their withdrawal fees covered for them by Square. Enstad wrote on Twitter:

“So today I found out CashApp pays for your BTC withdraw fee. So I sent 12 different transactions of $1 each. They seemed to batch withdraws, with about 10 other people. Each transaction had a next block fee of about $6.”

The 12 one-dollar transactions sent by Enstad incurred fees ranging between $7.80 and $4.30 each time. But the user only paid a cost of around eight cents to have their transaction included in the next block, as seen on’s blockchain explorer below.

Are Cash app users being shielded from Bitcoin’s current congestion? Source:

Enstad pointed out the strange occurrence, adding: “In other words, I withdrew $12 and Cash App paid about $6 for this over 12 different transactions… The price Jack [Dorsey, Twitter’s CEO] pays for a solid user experience on BTC!”

Bitcoin Fees Falling – But Still High

Average Bitcoin fees rose by over 2,000% in 2020 alone, climbing to a recent peak of $6.64 on May 20.

However, in the week since then, the average cost of transacting on the Bitcoin network fell by 63% – down to $2.41 at the time of writing, as per data from Bitinfocharts. Despite this, the cost of getting a transaction included in the very next block remains substantially higher, as witnessed above.

Square CEO Jack Dorsey has a recent history of charitable acts behind him. Could Square’s willingness to cover its users’ Bitcoin costs be yet another example of such charity? How long can Square’s goodwill – or wallets – hold out?

The post Twitter CEO’s Cash App Pays $6 in Bitcoin Fees for Each $1 Transaction App Users Make appeared first on CryptoPotato.

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