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News

Jack Dorsey’s Block to Launch Free Bitcoin Faucet After 16 Years

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Jack Dorsey’s Block is reviving the Bitcoin faucet concept with a $1 million giveaway campaign called Bitcoin Day, set to run from April 6 to April 10, 2026. The promotion, distributed through Cash App and integrated with Block’s hardware wallet Bitkey, marks the return of a format that first appeared in 2010, when early developer Gavin Andresen gave away free BTC to introduce newcomers to the network.

Block’s Bitcoin Day offers up to $80 in free BTC per user

Block’s official Bitcoin Day landing page, hosted at btc.day, frames the campaign under the tagline “The Faucet Is Back” and describes it as “Earn Free Bitcoin.” The company is distributing a total pool of $1 million in bitcoin across the five-day promotional window.

$1,000,000 in BTC
Block’s official Bitcoin Day landing page says the campaign is giving away $1 million in bitcoin.

Cash App’s official terms detail three distinct reward actions. Buying $10 or more of bitcoin on Cash App earns $5 in bitcoin. Paying a participating Square merchant with bitcoin earns $25 in bitcoin. Withdrawing bitcoin to a Bitkey hardware wallet earns $50 in bitcoin.

A single user who completes all three actions could receive up to $80 in bitcoin. The promotional period runs from 12:00 a.m. ET on April 6 to 11:59 p.m. ET on April 10, or until the $1 million pool is exhausted, whichever comes first.

Eligibility is limited to U.S. residents aged 18 or older. New York residents are excluded from the Square bitcoin payment and Bitkey withdrawal rewards due to state-level licensing restrictions. Block’s terms note that bitcoin services are not licensable activity in all U.S. states and territories.

Why the “16-year faucet” framing resonates

The original Bitcoin faucet, built by developer Gavin Andresen in 2010, gave away 5 BTC per visitor at a time when each coin was worth fractions of a cent. That tool is widely credited with onboarding thousands of early users to the network and demonstrating that Bitcoin could function as a peer-to-peer transfer mechanism.

Block’s Bitcoin Day site references this history directly in its metadata, positioning the campaign as a spiritual successor. According to unconfirmed reports, the faucet is being described as relaunching roughly 16 years after the original, though the exact elapsed-time framing is interpretive and does not appear in Block’s official promotional copy.

The symbolic weight matters. At a time when the broader Bitcoin community is debating how to approach protocol-level changes, with figures like F2Pool co-founder Wang Chun arguing that BTC upgrades should avoid “bundling bill” tactics, Block’s faucet campaign sidesteps technical controversy entirely. It focuses on the simplest possible value proposition: free bitcoin for trying the product.

The campaign ties Cash App, Square, and Bitkey into one funnel

The three-tier reward structure is not random. Each action maps to a different Block product. The $5 reward drives bitcoin purchases inside Cash App. The $25 reward pushes users toward Square’s merchant payment network. The $50 reward, the largest, incentivizes self-custody through Bitkey, Block’s dedicated bitcoin hardware wallet.

This layered approach turns a promotional giveaway into a product adoption funnel. Users who complete the full sequence interact with Block’s exchange service, its payments infrastructure, and its self-custody hardware in a single week.

The Bitkey withdrawal carrying the highest reward is notable. Self-custody wallets typically see low adoption among casual users due to setup friction. Attaching the largest dollar incentive to that step suggests Block is prioritizing long-term wallet activation over short-term Cash App engagement metrics.

Market context: Bitcoin trades near $67,000 amid extreme fear

The promotion arrives during a period of depressed market sentiment. Bitcoin traded at $67,388 at the time of the announcement, with a market capitalization of approximately $1.35 trillion and 24-hour trading volume near $22.69 billion.

$67,388
CoinGecko priced bitcoin at $67,388 at fetch time, giving market context for the promotion.

The Fear and Greed Index sat at 11, deep in “Extreme Fear” territory. Launching a free bitcoin campaign during a fear-driven market is a deliberate counterpoint. Block is betting that giving away small amounts of BTC when sentiment is low will create more engaged holders than running the same promotion during a rally.

Macroeconomic uncertainty adds backdrop. The Federal Reserve has warned that low employment growth may be the new normal amid elevated geopolitical risk, contributing to risk-off positioning across crypto and equities. Meanwhile, the Senate Banking Committee is scheduled to consider Kevin Warsh for Fed Chair on April 16, adding further policy uncertainty in the weeks ahead.

What a Bitcoin faucet means in 2026

The original 2010 faucet operated as a simple website: visit the page, solve a captcha, receive bitcoin. There was no account, no KYC, and no commercial motive. Andresen funded it out of pocket to spread awareness when the network had fewer than 10,000 users.

Block’s version is structurally different. It requires a Cash App account, operates within U.S. regulatory constraints, and ties rewards to specific product actions rather than unconditional distribution. The “faucet” label is more symbolic than literal.

Still, the core function is the same: putting bitcoin into the hands of people who have never held it. For users whose only exposure to cryptocurrency has been price headlines, receiving even $5 in actual bitcoin, held in their own Cash App wallet, creates a qualitatively different relationship with the asset.

The onboarding value of small free distributions is well-documented in crypto. Airdrops, referral bonuses, and learn-to-earn programs all follow the same logic. Block’s version is simpler and carries less friction than most, since Cash App already has over 50 million monthly active users in the U.S.

Key details the announcement leaves open

Several practical questions remain unanswered in the official materials. Block has not disclosed how many users it expects to participate or how quickly the $1 million pool might be depleted. If demand is high, the promotion could end well before April 10.

The terms do not specify whether rewards are distributed instantly or on a delayed settlement basis. For the Bitkey withdrawal reward, it is also unclear whether users must already own a Bitkey device or whether new device purchases during the promotional window qualify.

Geographic exclusions beyond New York are not fully detailed. The terms note that bitcoin services are not available in all states and territories, but do not list every excluded jurisdiction. Users in states with restrictive money transmission laws may find themselves ineligible for some or all of the reward tiers.

A single unconfirmed report placed the campaign announcement on April 4, with Jack Dorsey personally involved in the launch. However, no direct statement from Dorsey or an official Block press release has confirmed this specific timeline. The verified promotional window begins on April 6.

FAQ

When does Block’s Bitcoin Day promotion start?

The verified promotional window runs from 12:00 a.m. ET on April 6, 2026, to 11:59 p.m. ET on April 10, 2026, or until the $1 million bitcoin pool runs out.

What is a Bitcoin faucet?

A Bitcoin faucet is a service that distributes small amounts of bitcoin for free. The original faucet, created by Gavin Andresen in 2010, gave away 5 BTC per visitor to introduce people to the network. Block’s 2026 version uses Cash App to distribute bitcoin rewards tied to specific product actions.

Is the bitcoin from this promotion really free?

The $5 reward for buying bitcoin requires a minimum $10 purchase, so it is partially subsidized rather than entirely free. The $25 Square merchant payment reward and the $50 Bitkey withdrawal reward do not require an upfront bitcoin purchase but do require completing specific actions within Block’s product ecosystem.

Who is eligible?

U.S. residents aged 18 or older with a Cash App account. New York residents are excluded from the Square bitcoin payment reward and Bitkey withdrawal reward. Additional state-level restrictions may apply.

How much bitcoin can one person receive?

Up to $80 in bitcoin by completing all three reward actions: $5 for a bitcoin purchase, $25 for a Square merchant payment, and $50 for a Bitkey withdrawal.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.

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Avatar of Mayowa Adebajo

Mayowa Adebajo

04 April 2026, 16:46:15 GMT +0000

Mayowa is a seasoned freelance writer specializing in creating compelling, high-converting content across diverse industries.

With extensive experience working with major news outlets, personal blogs, and private clients, he brings a deep understanding of audience engagement and storytelling. His expertise spans SEO optimization, persuasive copywriting, and niche versatility, ensuring content that resonates and delivers results.

Armed with a strong command of the English language and a keen eye for detail, he crafts content that is both impactful and strategically tailored to meet client goals.

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