Jack Dorsey Bitcoin Faucet Event: What Is Known About Block’s BTC Rewards Launch

By Elena Zenth

Block has revived the Bitcoin faucet idea with a campaign built around its own ecosystem, rewarding activity across Cash App, Square, and Bitkey instead of offering a no-strings giveaway.

What the Jack Dorsey Bitcoin faucet launch says

Reporting from crypto.news and CoinEdition says Block opened btc.day on April 6, 2026 and is running the promotion through April 10, 2026 under the slogan “The Faucet Is Back.”

Those reports also say users can earn BTC by buying bitcoin on Cash App, spending with Square merchants, or using Bitkey, with the campaign distributing up to $1 million in BTC during the launch window.

The available evidence supports Block and Jack Dorsey as the faces of the campaign, but it does not show X as a co-launch partner. What the brief does verify is that Dorsey publicized the faucet on X on April 3, 2026 by pointing users toward the launch page.

The nostalgia angle is real: the brief links the new campaign back to Gavin Andresen’s original faucet in 2010, which gave away 5 BTC per visitor, an amount that the same post said would now be worth roughly $350,000.

₿REAKING: Jack Dorsey's technology company @Blocks announced today a new ‘bitcoin faucet’ website https://t.co/sMRqQFut9G that goes live on April 6. The original in 2010, gave away five bitcoins to every site visitor promoting education, that would be $350,000 today. pic.twitter.com/gpFddah25k

— Documenting ₿itcoin 📄 (@DocumentingBTC) April 3, 2026

How users are said to obtain BTC rewards through Block products

Cash App bitcoin purchases, Square merchant payments, and Bitkey usage are the only reward paths described in the brief, which is why the launch reads as a product-activation campaign as much as a giveaway. Each route requires a user to touch a Block service before any reward is earned.

The exact per-user payout was not publicly disclosed at launch, and crypto.news said that detail remained unclear according to unconfirmed reports, so the evidence is stronger on eligibility actions than on the distribution formula itself.

That distinction matters in a market where onboarding narratives vary widely, from the macro risk backdrop in Bitcoin’s wall of worry to yield-oriented offers like lower crypto lending rates. Block is using bitcoin rewards to move users into products it already monetizes, not just to create traffic.

Why the faucet matters for Block’s strategy

AInvest reported that Block holds 8,883 BTC worth about $594 million, with an average purchase price near $32,939.

Set against that treasury position and those product-triggered reward paths, the faucet looks less like a symbolic throwback and more like a customer-acquisition flywheel for Cash App, Square, and Bitkey. That is a different setup from high-beta attention plays such as high-upside altcoin narratives, because Block is tying the reward to services it already runs at scale.

Bitcoin market backdrop for the launch

The research brief placed Bitcoin near $68,565 during the campaign, which gives readers a baseline for valuing both the faucet pool and Block’s broader bitcoin exposure.

What is still unconfirmed

The brief does not disclose regional eligibility, reward size per action, or whether repeat participation is capped, so the launch scope is clearer than the user-level payout math.

It also frames the event as a promotional giveaway inside Block’s existing financial products rather than a new token or securities-style offer, which keeps the regulatory reading relatively narrow based on the evidence provided.

FAQ about the Jack Dorsey Bitcoin faucet report

Is the faucet confirmed?

The brief supports a live Block campaign at btc.day starting on April 6, 2026 and running through April 10, 2026, with Dorsey’s X announcement dated April 3, 2026.

How are users reportedly meant to earn BTC rewards?

The brief says rewards are tied to buying bitcoin on Cash App, spending with Square merchants, and using Bitkey. The exact payout per action was not publicly detailed in the material provided.

Has Block or X fully detailed the event mechanics?

No full rulebook appears in the embedded research. The available evidence confirms the launch window and the main product touchpoints, but not the detailed reward schedule or whether X has any operating role beyond hosting Dorsey’s announcement.