Jack Dorsey's Bitcoin team says weak demand, not technology, threatens Bitcoin payments

Spiral, Jack Dorsey's Bitcoin development team at Block, states that Bitcoin payments face weak demand rather than technological shortcomings. Over one million US merchants accept Bitcoin via Square, yet holders prefer saving over spending. US Federal Reserve data shows only 2% of American adults used crypto for payments in 2025, a figure stable between 1% and 2% since 2021. Major payment firms like Stripe, Shopify and Coinbase are integrating stablecoins instead, with Coinbase's x402 protocol settling about 99% of agent payments in USDC. Dorsey warns that if Bitcoin becomes merely 'digital gold,' it has failed, and the team calls for moonshot ideas to increase adoption within five years.