Bitcoin Must Function as Money, Not Just an Asset: Block’s Miles Suter

• Block’s Miles Suter said BTC is the only truly censorship-resistant money available today.
• Suter said BTC could lose core value if it becomes only a store of value and not P2P cash.
• Block disclosed 28,355.05 BTC in Q1 reserves worth about $2.2B, across all holdings.

Miles Suter, Bitcoin Product Lead at Block Inc., said Bitcoin remains the only truly censorship-resistant form of money and warned that its long-term value depends on being used for payments, not just held as an asset.

Speaking on the Nakamoto Stage at Bitcoin 2026 in Las Vegas, Suter said Bitcoin must circulate instead of sitting idle on balance sheets.

<embed>“If Bitcoin doesn’t function as peer-to-peer cash, it loses the quality that makes it transformational,” he said.<embed>

It is important to note that the comments came alongside Block’s Q1 2026 proof of reserves. The company disclos…

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